Hong Kong Crypto VC Funds $100M Asian Blockchain Companies
The “Titan Fund” has already made five investments in various blockchain startup companies, including two in Hong Kong-based initiatives. CMCC Global, a Hong Kong-based venture capital firm focused on cryptocurrencies, has raised $100 million to support Asian blockchain businesses. Titan Fund completed its initial funding round on October 4, with participation from 30 investors, including […]
Hong Kong Stock Exchange Launches Settlement Platform
Hong Kong Exchanges and Clearing Limited (HKEX) is introducing cutting-edge equities settlement acceleration technology. The platform, known as “Synapse,” would use smart contracts written in the DAML programming language to improve operational effectiveness and streamline post-trade flows, according to a statement made on October 4. Synapse will be put into use on Stock Connect, a […]
Hong Kong, Macau Police Arrest Individuals in JPEX Fraud Case
Hong Kong and Macau authorities recently announced arrests concerning the JPEX crypto exchange fraud case as they are searching for additional suspects. Radio Television Hong Kong reported on September 29 that two Hong Kong men implicated in the JPEX case were arrested. According to the report, the two created accounts in Macau-based casinos to allegedly […]
Hong Kong Crypto Scandal Investigation Sparks Controversy
Hong Kong is embroiled in a crypto controversy concentrated on an investigation into the activities of the cryptocurrency trading platform JPEX. Not only have arrests resulted from the situation, but it has also raised questions about the efficacy of the city’s regulatory framework for digital assets. Chief Executive John Lee verified that Hong Kong’s police […]
HKMA Warns Crypto ‘Banks’ Against Misleading Claims
The Hong Kong Monetary Authority (HKMA) has warned virtual asset institutions against falsely claiming to be “crypto banks,” “virtual asset banks,” “digital asset banks,” “digital banks,” or “digital transaction banks” on its website. These institutions must refrain from promoting their services as “banking services” or “bank accounts,” using the term “deposit” to depict customer funds, […]