#hong kong

The Hong Kong government is preparing to exempt private investment firms, hedge funds, and family offices from taxes on income earned through cryptocurrency transactions.

Circle, the issuer behind the USDC stablecoin, has entered into a memorandum of understanding with Hong Kong’s largest telecommunications provider, HKT, to jointly create a blockchain-based solution for loyalty program management.

The police in Hong Kong uncovered a large crypto scam and arrested 27 suspects - 21 men and 6 women.

In a span of two months, the Hong Kong Monetary Authority (HKMA) collected 108 responses from industry players and financial institutions about regulations for fiat-referenced stablecoins. Government officials see these assets as the most promising, which is why the new bill will focus on them.

The purported Hong Kong offices of the cryptocurrency exchange BitForex, which has recently restricted users' ability to withdraw funds, have been exposed as nothing more than vacant units situated in both industrial and tourist districts. This revelation comes from DLNews journalist Callan Quinn, who personally inspected each address provided on the company's official web pages.

Hong Kong's largest bank, HSBC, plans to launch a custody service for tokenized securities for its institutional clients by 2024.

Hong Kong's Securities and Futures Commission (SFC) has issued guidelines for asset tokenization, addressing the growing market interest.

The Hong Kong Virtual Asset Consortium (HKVAC) has announced a decision to replace the stablecoin USDC and introduce Ripple into two of its crypto indexes, which are based on the top 5 cryptocurrencies.

Hong Kong-based ZA Bank has introduced retail cryptocurrency trading directly through its app via HashKey Pro, a platform developed by the local exchange HashKey.

The Hong Kong government has announced expanded tax breaks for cryptocurrency investments and a simplified licensing process for crypto platforms.

Harvest Fund Management, Bosera Asset Management, and China Asset Management have secured approval from the Hong Kong regulator to launch spot ETFs for Bitcoin and Ethereum.

The Hong Kong court has mandated the liquidation of China's largest real estate developer, Evergrande, owing to the company's inability to meet its debt obligations, which currently exceed $300 billion.

The Hong Kong Securities and Futures Commission (SFC) has released a circular outlining the requirements for the potential tokenization of investment products.

Founded in 2014, Neo is actively pursuing the creation of a sidechain to bolster compatibility with Ethereum-based dApps, ensuring seamless integration with its N3 network. Neo's founder, Da Hongfei, shared this exciting update during an event in Hong Kong.