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Modern Terminals, the second largest container terminal operator in Hong Kong, has joined the TradeLens project, a blockchain-enabled technological solution developed by Maersk and IBM. The TradeLens ecosystem – writes Modern Terminals in its press release – seeks to digitize and streamline processes in the global supply chain to deliver higher efficiency and lower cost. It
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Cryptocurrency custodians are third parties that store large amounts of digital assets for institutions, hedge funds, exchanges and issuers of initial coin offerings. Companies in Hong Kong now have a new locally regulated option, which could help to increase investor confidence.
Also Read: You Can Now Withdraw Split BCH and BSV Coins From Coinex
Invault, a Shanghai-based startup, has secured a new trust license from the Hong Kong financial regulator to act as a digital custodian in the Chinese special administrative region. It plans to begin offering automated cryptocurrency custodial services in December. It is also said to be in talks with a couple of “mid-sized” insurance companies to possibly add their coverage to its services.
Hong-Kong based bitcoin exchange, BTCC has made known through a press release, plans to shut down its mining pool business BTCC Pool Limited after four years of operation in Hong-Kong. According to a statement from the firm published on November 6, 2018, the company says it would “shut down all mining servers on November 15
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Hong Kong-based stock market commentator Raymond Yuen has been indicted for misleading web users into investing into a Crypto Mining Ponzi Scheme. Based on reports on local Hong Kong media outlet The Standard, investors had narrated to the Democratic party how Yuen swindled them of HK$ 6.9 million in funds for a Ponzi scheme. According to … Continued
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The Securities and Futures Commission (SFC) of Hong Kong has claimed that it will include crypto funds under its regulatory umbrella.
The SFC issued a statement on November 1, 2018, laying out its new approach for regulating virtual assets in the future. The SFC granted that there are many inherent risks in investing in a new space like cryptoassets and set out to address these risks through new regulatory action.
The statement showed a willingness to adapt the existing regulations around investing to conveniently and decisively affect crypto as well, staying away from either making these sorts of assets a specific new class of assets or attempting to discourage virtual assets altogether.
The Securities and Futures Commission of Hong Kong has announced new plans to regulate the cryptocurrency industry. The regulator issued two circulars on Thursday outlining new rules for crypto exchanges as well as crypto asset portfolio managers, intermediaries, and fund distributors.
Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space
The Hong Kong Securities and Futures Commission (SFC) issued two circulars on Thursday concerning cryptocurrency regulations. The first outlines “a new approach which aims to bring virtual asset portfolio managers and distributors of virtual asset funds under its regulatory net,” the commission wrote. It also “sets out a conceptual framework for the potential regulation of virtual asset trading platforms.” The second document addresses intermediaries that distribute crypto funds.
The Hong Kong Securities and Futures Commission (SFC) today released a statement stipulating the regulatory standards that would define the trajectory of virtual assets portfolio managers and fund distributors, according to an announcement on its website. As per CCN’s report, the regulator had proposed the framework in a research paper published in October 2018. The
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The outgoing chairman of Hong Kong’s securities regulator has – unlike China – ruled out a total ban on domestic cryptocurrency exchanges, suggesting formal regulations instead. Hong Kong’s Securities and Futures Commission (SFC) is drawing plans in reaction to the growing appetite for cryptocurrencies like bitcoin among retail investors and traders – by regulating the
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BitMEX, one of the largest cryptocurrency trading platforms, has named Angelina Kwan, formerly managing director and head of regulatory compliance for Hong Kong Exchanges and Clearing Limited (HKEX), as its chief operating officer. Kwan, who joins the company as it rides exceptional growth, will work with regulators worldwide to develop rules that will support cryptocurrency’s
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Around 15% of the premium corporate real estate in Hong Kong is now occupied by cryptocurrency startup companies and investment firms. According to a recent report by the South China Morning Post, cryptocurrency-related companies are collectively paying $ 1.3 million per month in rent. The current cost per square foot in Hong Kong’s prime office buildings stands at […]
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The real estate market of Hong Kong is said to be one of the most expensive in the world, alongside New York, London, and Sydney. Yet, crypto startups are moving into the most valuable skyscrapers in the city. On August 22, CCN reported that BitMEX, a popular cryptocurrency exchange that facilitates Bitcoin and Ethereum margin
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The price of Bitcoin may have come tumbling down this year, but the world’s largest crypto mining hardware manufacturer has continued to rake in the big bucks. Bitmain released its financial results revealing that it had generated $ 2.8 billion in revenue in the six months ending June this year. The firm which has a stranglehold on the crypto mining industry with a 75 percent market share disclosed the financial results in accordance with requirements by the Hong Kong Stock Exchange where it plans to list.
The world’s largest crypto mining equipment manufacturer Bitmain has finally filed an initial public offering (IPO) with the Stock Exchange of Hong Kong. Bitmain, which has demonstrated absolute dominance over the lucrative Bitcoin mining market for many years, is yet to disclose its target valuation. But, local analysts have stated that the success of the
The post Bitcoin Giant Bitmain Finally Files IPO in Hong Kong, Emphasizes 328% Yearly Revenue Growth appeared first on CCN
Grandshores Technology Group, a Hong Kong–listed investment holding company, is seeking to raise around $ 12.7 million through a digital token fund, according to reports from the South China Morning Post (SCMP). Grandshores Technology plans to use the funding to launch a yen-backed stablecoin.
Chinese investor Yongjie Yao, who currently chairs Grandshores Technology, is also a founding partner at Hangzhou Grandshores Fund, which is backed by the local government of the city of Hangzhou and Chinese crypto billionaire Xiaolai Li.
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This is a paid-for submitted press release. CCN does not endorse, nor is responsible for any material included below and isn’t responsible for any damages or losses connected with any products or services mentioned in the press release. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned
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This is a submitted sponsored story. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned in the content below. Sparkdex, the first decentralized cryptocurrency exchange to start up in Hong Kong, will launch on the August 30th, 2018. Designed for cryptocurrency traders, the exchange will offer a
The post Sparkdex, Hong Kong’s First Decentralised Cryptocurrency Exchange, Opens to Customers appeared first on CCN
Cryptocurrency trading platform BitMex is going all out in its plan for expansion, renting space in the world’s most expensive office building, located in Hong Kong.
If you asked most cryptocurrency investors and enthusiasts today if their investments have put them in the market for an upgrade to their car or home, you probably would not receive a pleasant answer.
After the meteoric rise in the price of Bitcoin 00 from $ 1,900 to nearly $ 20,000 between July and December 2017, many investors both new and experienced entered the markets hoping to buy the dip and strike gold overnight. Almost nine months later and the dreams and aspirations of luxury cars, boats, and luxurious living have been put on standby.
Bitcoin may not be reaching for the ‘moon’ [yet] but BitMEX is reportedly going after something else whose price has been skyrocketing – offices in Hong Kong. According to the Hong Kong Economic Times, leveraged bitcoin trading firm BitMEX has just taken occupancy of the most expensive offices in the world. Per the business publication,
The post Crypto Exchange BitMEX Rents World’s Most Expensive Offices in Hong Kong appeared first on CCN
A Hong Kong man skeptical of the cryptocurrency exchange KuCoin, paid a visit to its registered address in Hong Kong, only to find that it doesn’t actually exist.
In a recent post on Medium, Jackson Wong from Hong Kong wrote about his experience visiting the KuCoin offices in Hong Kong — or rather not visiting, as he found barely a trace of the company in its registered HK location.
The search was prompted by concerns Wong voiced in a previous post in January of this year, in which he warned readers that KuCoin was not actually operating out of Hong Kong like they had claimed. This came after finding out that KuCoin’s registered operating address was in mainland China.
