The Hong Kong Securities and Futures Commission (SFC) has announced that it will be conducting on-site inspections of local virtual asset trading platforms (VATPs) that have not yet completed their regulatory applications after the licensing deadline of June 1. The SFC’s move comes as a reminder to crypto companies of their obligation to obtain licensing…
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Cryptocurrency exchange Okx has decided to withdraw its virtual asset service provider (VASP) license application in Hong Kong. As a result, Okx will stop offering centralized virtual asset trading services to Hong Kong residents by May 31, 2024. The exchange stressed that customer funds remain secure, and withdrawal services will continue unaffected. Okx’s web3 (self-hosted…
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Crypto exchange OKX announced on Friday that it has withdrawn its Virtual Asset Service Provider (VASP) license application in Hong Kong and will cease to provide trading services to residents. OKX joined Gate.io’s Hong Kong affiliate, HKVAEX, and Huobi HK in recently withdrawing their VASP applications from the Hong Kong Securities and Futures Commission. In…
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Gate.HK, the Hong Kong arm of cryptocurrency exchange Gate.io, is undergoing a significant platform overhaul to enhance security and compliance, withdrawing its applications for licensing under Hong Kong’s Securities and Futures Ordinance (SFO) and the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO). Effective immediately, new user registrations and asset deposits are suspended. All tokens will…
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Hong Kong police have arrested 100 individuals in a significant crackdown on fraud and money-laundering syndicates, recovering over HK$180 million (US$24.2 million) from 295 victims. In a two-week operation code-named “Widepeak,” which concluded on Monday, 75 men and 25 women were detained on suspicion of money laundering and obtaining property by deception. Cryptocurrency Scam Amongst…
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Hong Kong police arrested on Tuesday three individuals linked to a fraud syndicate that allegedly defrauded at least 10 residents out of HK$5.1 million (US$653,900) through fake virtual investment talk tickets. Authorities revealed that the victims were deceived into bidding for fake tickets to a virtual investment talk show with the intention of reselling them for…
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According to the latest data, U.S. spot bitcoin exchange-traded funds (ETFs) have experienced positive inflows for six consecutive days. Over this period, the spot bitcoin ETFs attracted a total of $1.186 billion. Ark Invest’s ARKB Tops Inflows as U.S. Bitcoin ETFs Gain $237 Million Spot bitcoin ETFs in the U.S. continued their streak of positive…
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Hong Kong police have arrested three men at a currency exchange shop in Tsim Sha Tsui, a major tourist area, for allegedly presenting “hell money” to a customer, leading the customer to transfer approximately HK$1 million ($128,206) worth of cryptocurrency in exchange for cash. The suspects, aged between 31 and 34, were detained on suspicion…
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Since the Hong Kong spot bitcoin exchange-traded funds (ETFs) began trading, their performance has been underwhelming, with three ETFs accumulating around $228 million in net assets. Inconsistent Inflows and Outflows Mark Hong Kong Bitcoin ETFs’ First Weeks On Thursday, the spot bitcoin ETFs in Hong Kong experienced net negative outflows of approximately 104.79 BTC, valued…
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The Hong Kong Monetary Authority (HKMA) and the People’s Bank of China (PBOC) have advanced the digital yuan (e-CNY) pilot for payments, aiming to increase e-CNY wallet usage in Hong Kong. Residents can now set up and top up wallets via the Faster Payment System (FPS), marking the first global linkage of a faster payment…
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