Blockchain/Bitcoin
HK-Based Crypto Startup Bitspark to Close its Doors Soon
In a blog post written by its founder George Harrap, Bitspark announced that it will be shutting down as of March 2020. They attributed the decision to an “internal restructuring that hasn’t worked out”. Founded in 2014, Bitspark often describes
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Hong Kong and Thai Regulators Unveils Pilot Results on Central Bank Backed Digital Currency
The Hong Kong Monetary Authority (HKMA) and the Bank of Thailand (BOT) announced the outcomes and published a joint report on Project Inthanon-LionRock. The two authorities initiated Project Inthanon-LionRock to study the application of CBDC to cross-border payments. A THB-HKD
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Why China Leads the World in Blockchain Development and Adoption
Blockchain has become a national priority for China both in the public and private sector. This is further accelerated thanks in part to president Xi Jinping who recently proclaimed the technology as an important breakthrough. Efforts to launch a central
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UN Migration Agency Uses Blockchain to Prevent Domestic Helper Exploitation in HK
Blockchain solution provider Diginex and the Internationa Organisation for Migration announced the launch of a blockchain based tool developed to prevent the exploitation of migrant domestic helpers in Hong Kong. The tool called IRIS-SAFER, which is an acronym for the
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KPMG Launches Blockchain Platform, KPMG Origins
KPMG in China, Australia and Japan today launched KPMG Origins, a blockchain-based “track and trace” platform to support industries including agriculture, resources, manufacturing and financial services. The platform has been developed to enable global trade. It brings together a number
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President Xi Jinping Fuels China’s Renewed Appetite For Blockchain
China’s appetite for blockchain has surged after Chinese president Xi Jinping proclaimed the technology as an “important breakthrough” and said “greater effort should be made to strengthen basic research and boost innovation capacity.” The Communications Industry Association, an affiliate of
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Hong Kong Has Issued Regulations for Crypto-Assets — Here Are the Key Takeaways
The Securities and Futures Commission of Hong Kong (SFC) has issued regulations for fund managers investing in virtual assets, setting requirements for the custody of virtual assets, how to manage counterparty risk, and more. On October 4, 2019, The financial
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Facebook’s Libra Will Not Include China’s Yuan
In a letter responding to German legislator, Fabio De Masi, Facebook has revealed the breakdown of its basket of global currency that will underpin its digital coin, Libra. According to a report by Reuters, the US Dollar will make up
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4 Reasons Why China’s Central Bank is Launching a Digital Currency
Blockchain and cryptocurrencies have been all the rage these past years. Now even central banks are looking to launch their own digital currency. So-called central bank digital currencies (CBDCs) differ from traditionally digital currencies like bitcoin and ether in the
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Legacy Trust Launches Digital Asset Pension Plan
Hong Kong-licensed Legacy Trust Company Limited is launching a digital asset pension plan; a voluntary pension plan available to employers and the self-employed, where the contributions and underlying asset portfolio can include digital assets alongside fiat currencies. According to the
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