Blockchain/Bitcoin

Floki Defends Staking Program Amid SFC’s Warning

Floki, a cryptocurrency project, acknowledged that its staking program was labelled as potentially suspicious by Hong Kong’s Securities and Futures Commission (SFC) on 26 January. Floki regretted this classification and noted its ongoing efforts since December 2023 to address regulatory

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Hong Kong to Engage Industry Players in Stablecoin Regulation Study

Hong Kong is reportedly making significant strides towards comprehensive stablecoin regulation, with plans to implement rules within the current quarter. Bloomberg and other sources suggest that key financial entities, including Harvest Global Investments Ltd., RD Technologies, and Venture Smart Financial

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Floki Staking and TokenFi Staking Added to SFC’s Alert List Over Risk Concerns

The Securities and Futures Commission (SFC) issued a public warning about two cryptocurrency investment schemes, named “Floki Staking Program” and “TokenFi Staking Program.” These programs claim to offer annualised returns ranging from 30 percent to over 100 percent. The SFC

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Tiger Brokers (HK) Integrates Crypto Trading, Eyeing Retail Market Expansion

Tiger Brokers (HK) Global Limited announced the upgrade of its Type 1 licence to include virtual asset dealing services. This development reportedly positions Tiger Brokers (HK) amongst the first mainstream online brokerages in Hong Kong to integrate such services. The

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HashKey Exchange and Animoca Brands Forge Partnership to Boost Web3 Ecosystem

HashKey Exchange, a virtual asset exchange based in Hong Kong, and Animoca Brands, a firm specialising in digital property rights for gaming and the metaverse, have entered a strategic partnership, formalised through a Memorandum of Understanding (MoU). This collaboration seeks

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Financial Partners Invests US$40M in Grayscale and Fidelity’s Bitcoin ETFs

Financial Partners, a financial services group, has disclosed an investment of US$40 million into spot Bitcoin Exchange Traded Funds (ETFs) offered by Grayscale and Fidelity. This step is part of the company’s broader strategy to integrate advanced technology, including artificial

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HashKey Group Hits Unicorn Status in Latest US$100 Million Series A Round

HashKey Group, which runs one of the two licensed cryptocurrency exchanges in Hong Kong, has successfully closed its Series A funding round, securing nearly US$100 million. According to the company, the Group’s pre-money valuation is over US$1.2 billion (HK$9.38 billion).

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OSL Group Appoints Patrick Pan as CEO to Spearhead Global Expansion

OSL Group a SFC-licensed digital asset platform, announces the appointment of Patrick Pan as CEO, spearheading its global expansion strategy for 2024 in the digital assets sector. The group said that this initiative marks a significant move to enhance OSL’s

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Stablecoin Regulation in Hong Kong: Everything You Need to Know

As digital finance continues to evolve; regulatory frameworks struggle to keep pace with the rapid advancements and inherent risks.  In response to the emerging risks in the fast-evolving virtual asset (VA) sector, highlighted by events like the TerraUSD collapse, authorities

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Hong Kong Proposes New Licensing Regime for Stablecoin Issuers

The Financial Services and the Treasury Bureau (FSTB) and the Hong Kong Monetary Authority (HKMA) have issued a consultation paper proposing a regulatory regime for stablecoin issuers in Hong Kong. This announcement invites feedback from the public and stakeholders, signalling

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