Category: Hong
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Businessman Scammed Out of $400K in Crypto, 3 Arrested in Hong Kong
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Hong Kong police have arrested three individuals on suspicion of defrauding a businessman of HK$3.11 million, equivalent to about US$399,000, in crypto assets by offering him three bundles of counterfeit HK$1,000 banknotes. Officers reportedly seized 10,978 counterfeit HK$1,000 notes during a raid on the Mong Kok office where the fraudulent…
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Hong Kong’s Top Virtual Bank to Offer Reserve Services to Crypto Stablecoin Issuers
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Hong Kong’s largest virtual bank, ZA Bank, achieved a new milestone earlier today by an offer Hong Kong has announced plans to offer exclusive Reserve Bank services to stablecoin issuers, a move in line with Hong Kong’s recent regulatory progress regarding cryptocurrencies. The initiative is part of the region’s new…
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Hong Kong Boy Kidnapped, Ransom Demanded in USDT: Report
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In Tsung Kwan O, Hong Kong, a 3-year-old boy was kidnapped from a shopping mall on July 3. Following the incident, the kidnappers demanded a ransom of US$660,000, equivalent to about HK$5.15 million. Hong Kong Kidnappers Demand USDT The boy’s parents were I ordered To download the Telegram messaging app…
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Hong Kong Boy Kidnapped, Ransom Demanded in USDT: Report
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In Tsung Kwan O, Hong Kong, a 3-year-old boy was kidnapped from a shopping mall on July 3. Following the incident, the kidnappers demanded a ransom of US$660,000, equivalent to about HK$5.15 million. Hong Kong Kidnappers Demand USDT The boy’s parents were I ordered To download the Telegram messaging app…
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Hong Kong to Adjust Crypto Laws in Response to Lawmaker’s Inquiry
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Hong Kong’s financial regulators take a measured approach to cryptocurrency regulations, responding with constant changes to market developments. Christopher Howe, Secretary of the Treasury, recently Confirmed The government’s strategy of continually monitoring and adapting cryptocurrency rules to suit the evolving industry comes amid concerns that regulatory frameworks may stifle innovation…
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Hong Kong to Adjust Crypto Laws in Response to Lawmaker’s Inquiry
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Hong Kong’s financial regulators take a measured approach to cryptocurrency regulations, responding with constant changes to market developments. Christopher Howe, Secretary of the Treasury, recently Confirmed The government’s strategy of continually monitoring and adapting cryptocurrency rules to suit the evolving industry comes amid concerns that regulatory frameworks may stifle innovation…
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At least four companies launch Hong Kong IPOs to raise about $500 million By Reuters
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Written by Scott Murdoch SYDNEY (Reuters) – At least four companies ranging from a U.S.-based aircraft manufacturer to a Chinese artificial intelligence company launched initial public production in Hong Kong on Friday to raise up to $500 million, according to their regulatory filings. Cirrus Aircraft, a Minnesota-based small jet aircraft…
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Country Garden’s Hong Kong liquidation hearing further adjourned to July By Reuters
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HONG KONG (Reuters) – Hong Kong’s High Court has postponed a hearing on a petition seeking the Chinese property developer’s liquidation to July 29, Embatled Country Garden said in a filing on Thursday. The company did not provide a reason for the delay. The hearing was originally adjourned to June…
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Major Milestone: Hong Kong Regulator Approves 11 Crypto Exchanges To Operate In The City
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Hong Kong’s Securities and Futures Commission (SFC) recently granted in-principle approval to 11 cryptocurrency exchanges to continue operating in the city. This marks the first step towards the issuance of Virtual Asset Trading Platform (VATP) licenses since 2022. The move comes as Hong Kong aims to establish itself as a…
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Fourteen Hong Kong democrats found guilty in landmark subversion trial By Reuters
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Written by Jesse Pang and James Pomfret HONG KONG (Reuters) – Fourteen Hong Kong pro-democracy activists were convicted and two acquitted on Thursday in a landmark subversive trial that critics say could deal another blow to the city’s rule of law and its reputation as a global financial center. The…
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Worldcoin’s Biometric Data Collection Violates Privacy Laws: Hong Kong’s Regulator
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The controversial Worldcoin project has faced another setback. Hong Kong’s privacy regulator, the Office of the Privacy Commissioner for Personal Data (PCPD), has ordered Worldcoin to cease all operations in the territory, citing that its practices violate local privacy regulations. The PCPD issued a statement this week revealing that Worldcoin…
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OKX Bows Out of Hong Kong, Withdraws VASP License Bid
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To comply with regulatory requirements, OKX said it will discontinue centralized cryptocurrency trading services for Hong Kong residents effective May 31, 2024. OKX attributed the decision to withdraw the Virtual Asset Service Provider (VASP) license application to “careful consideration” of its business strategy. However, the exchange did not provide further…
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Hong Kong Eyes Ether ETF Staking to Outpace US
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Hong Kong is considering allowing exchange-traded funds (ETFs) to invest directly in ether. Hong Kong’s Securities and Futures Commission (SFC) is engaging the city’s cryptocurrency ETF issuers on offering staking services through licensed platforms, the Business Times reported. Passive encoder input This potential regulatory change could open up a new…
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OKX HK Discontinues License Application in Hong Kong, Asks Users to Withdraw Funds
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OKX has withdrawn its license application to provide virtual asset services in Hong Kong and plans to discontinue centralized virtual asset trading services for users in the region. In a statement on its website, the cryptocurrency exchange said it has withdrawn its VASP license application and will cease centralized virtual…
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Worldcoin Project Halted In Hong Kong By Privacy Commission
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The Office of the Privacy Commissioner for Personal Data (PCPD) in Hong Kong has served an enforcement notice to Worldcoin, a cryptocurrency project co-founded by OpenAI CEO Sam Altman, asking them to cease operations. The decision concludes the investigation that PCPD began in January 2024. Hong Kong suspends Worldcoin activities…
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Hong Kong’s privacy watchdog accuses Worldcoin of violating data laws
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Hong Kong’s privacy regulator found Worldcoin to be in violation of local privacy laws, and asked the Worldcoin Foundation to cease all operations in the region. Worldcoin, an iris biometric cryptocurrency startup co-founded by OpenAI CEO Sam Altman, has found itself embroiled in a controversy over data collection practices in…
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Hong Kong’s privacy watchdog accuses Worldcoin of violating data laws
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Hong Kong’s privacy regulator found Worldcoin to be in violation of local privacy laws, and asked the Worldcoin Foundation to cease all operations in the region. Worldcoin, an iris biometric cryptocurrency startup co-founded by OpenAI CEO Sam Altman, has found itself embroiled in a controversy over data collection practices in…
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Case Study: Enabling Bitcoin as a Medium of Exchange at the Bitcoin Asia Conference in Hong Kong
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The Bitcoin Asia conference held on May 9-10, 2024 in Hong Kong demonstrated a significant milestone in the adoption of Bitcoin as a legitimate medium of exchange. This article describes the strategies and technologies applied to facilitate seamless Bitcoin transactions of goods and services over the course of two days,…
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Hong Kong Trials China’s e-CNY
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Hong Kong, the dynamic hub of Asian finance, has taken a pioneering leap into the future of digital currency. in This is the first step of its kindChina has launched a pilot program for its electronic currency CNY, or digital yuan, allowing Hong Kong residents to test this new financial…
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Hong Kong Police Arrest Crypto Exchange Shop Employees on Suspicion of Fraud
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Hong Kong police have arrested three employees of a currency exchange shop on suspicion of fraudulent activities. This followed an incident where a customer at the store was reportedly confronted with piles of “hell money” before executing a cryptocurrency transfer worth around HK$1 million. Hong Kong authorities arrest 3 on…