Hong Kong Announces Legislative Consultation on Cryptocurrency
Hong Kong authorities have opened a public consultation on legislative plans to establish a licensing system for providers of over-the-counter (OTC) virtual asset trading services. The Hong Kong government claims that certain fraud cases have revealed the participation of VA over-the-counter operators; therefore, in order to lower the dangers associated with money laundering and financing, […]
Hong Kong Crypto Investors Face Ultimatum from Regulators
Hong Kong crypto investors have to act fast and verify the licensed platforms they are trading on, as the regulators have set a deadline for the virtual asset trading platforms to obtain licenses or cease operations. The move is part of Hong Kong‘s regulatory overhaul to ensure investor protection and compliance. Hong Kong’s crypto landscape […]
Floki Restricts Staking for Hong Kong Users Following SFC’s Warning
The Hong Kong Securities and Futures Commission (SFC) has cautioned users against staking in the dog-themed meme coin project, Floki, describing it as “suspicious investment products.” The SFC warned users within its jurisdiction on January 26 regarding the Floki and TokenFi staking programs, highlighting their guaranteed annualized returns ranging from 30% to over 100%. As […]
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 […]
MaiCapital receives approval from SFC Hong Kong to manage virtual asset
MaiCapital has received a license from the Securities and Futures Commission (SFC) in Hong Kong to give the virtual assets manager the power to manage portfolios containing up to 100 percent virtual assets. MaiCapital had been operating under the Type 4 and Type 9 licenses from the SFC since 2018. The licenses permitted MaiCapital to […]