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"Hong Kong will host this year's Bitcoin Summit"! Accelerate the landing of Bitcoin spot ETF and aspire to become the "leader of virtual assets"!
Over the past five years, Bitcoin Summit has become the largest gathering of cryptocurrency enthusiasts in the world. Every year members of the cryptocurrency community from around the world come together to share their latest insights and innovations in the Bitcoin and blockchain space.
According to the latest news from the official website, this year’s Bitcoin Summit will be held at Hong Kong’s Kai Tak Cruise Terminal, which provides greater opportunities for Hong Kong to become a global trading hub.
In recent years, the virtual asset market has shown a booming trend, attracting the attention of more and more investors. After the U.S. Securities and Exchange Commission approved the Bitcoin spot ETF, Wu Jiezhuang tweeted: "This is an important move for the virtual asset market, attracting more traditional investors and funds to participate in investment in the virtual asset field. ... I think Hong Kong should also Dare to be a 'leader' in the field of virtual assets and promote the development of the entire industry through innovative policies."
According to the latest news from the official website, this year’s Bitcoin Summit will be held at Hong Kong’s Kai Tak Cruise Terminal, which provides greater opportunities for Hong Kong to become a global trading hub.
In recent years, the virtual asset market has shown a booming trend, attracting the attention of more and more investors. After the U.S. Securities and Exchange Commission approved the Bitcoin spot ETF, Wu Jiezhuang tweeted: "This is an important move for the virtual asset market, attracting more traditional investors and funds to participate in investment in the virtual asset field. ... I think Hong Kong should also Dare to be a 'leader' in the field of virtual assets and promote the development of the entire industry through innovative policies."
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Cryptocurrency crime in Hong Kong has nearly tripled in the past three years
Cryptocurrency-related crimes in Hong Kong have tripled in three years, with 2,023 cases involving approximately $611 million.
In the past three years, Hong Kong has seen a significant increase in virtual asset-related criminal cases. The number of reported cases were 1,397, 2,336 and 3,415 respectively, and the amounts involved were HK$824 million, HK$1.704 billion and HK$4.398 billion respectively, nearly tripling over the same period.
Law enforcement collects case-specific statistics on arrests and legal proceedings based on reports. In the JPEX case, for example, 70 people have been arrested as of February 20, but no formal charges have been filed against them.
In the past three years, Hong Kong has seen a significant increase in virtual asset-related criminal cases. The number of reported cases were 1,397, 2,336 and 3,415 respectively, and the amounts involved were HK$824 million, HK$1.704 billion and HK$4.398 billion respectively, nearly tripling over the same period.
Law enforcement collects case-specific statistics on arrests and legal proceedings based on reports. In the JPEX case, for example, 70 people have been arrested as of February 20, but no formal charges have been filed against them.
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Hong Kong's cryptocurrency ETF is facing capital outflows, which has attracted widespread attention from the market and regulators
As the cryptocurrency market is booming, Hong Kong, as an international financial center, is actively exploring the development of cryptocurrency ETFs to seize the opportunities brought by this emerging asset class. However, despite the huge market potential, the first cryptocurrency ETF launched in Hong Kong has recently faced the dilemma of capital outflow, which has attracted widespread attention from the market and regulators.
Analysts believe that the outflow of funds may be due to the market's lack of awareness of cryptocurrency ETFs, concerns about risk management, and the impact of international competition. In the face of these challenges, Hong Kong needs to strengthen market education, enhance investor confidence, and innovate regulatory policies to promote the healthy development of cryptocurrency ETFs.
Analysts believe that the outflow of funds may be due to the market's lack of awareness of cryptocurrency ETFs, concerns about risk management, and the impact of international competition. In the face of these challenges, Hong Kong needs to strengthen market education, enhance investor confidence, and innovate regulatory policies to promote the healthy development of cryptocurrency ETFs.
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Ha ha, I quite like this cup!
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Speculations on USDT Payments in Hong Kong
1. Hong Kong's special positioning: A financial 'testing ground'
1. The inclusiveness of financial regulation
Hong Kong and the mainland have different policies regarding cryptocurrencies. The mainland has completely banned cryptocurrency trading (for example, Alipay cannot use USDT for transactions), while Hong Kong has not imposed a total ban. As long as cryptocurrency trading platforms complete the registration process in accordance with the law and strictly implement anti-money laundering measures, USDT can circulate normally. This is similar to a restaurant that can officially open for business as long as it has obtained a legal operating license and meets hygiene standards.
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Hong Kong regulator: Worldcoin’s biometric data collection violates privacy laws
The Office of the Privacy Commissioner for Personal Data (PCPD) pointed out that Worldcoin’s practices violated Hong Kong’s data protection principles.
The highly controversial Worldcoin project is facing another challenge. Hong Kong’s privacy regulator, the Privacy Commissioner for Personal Data (PCPD), has issued a directive to the Worldcoin Foundation to cease all business activities in Hong Kong because its actions violated local privacy protection laws.
The PCPD released a statement this week revealing that Worldcoin collected facial and iris biometric data from at least 8,302 individuals during its operations in Hong Kong.
The highly controversial Worldcoin project is facing another challenge. Hong Kong’s privacy regulator, the Privacy Commissioner for Personal Data (PCPD), has issued a directive to the Worldcoin Foundation to cease all business activities in Hong Kong because its actions violated local privacy protection laws.
The PCPD released a statement this week revealing that Worldcoin collected facial and iris biometric data from at least 8,302 individuals during its operations in Hong Kong.
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Please help me, where is the best place to rent in Hong Kong?
I originally planned to stay in my hometown, but recently I found that I couldn't stay idle. Spending time in Shanghai and Beijing is no longer attractive. After living in and out of major domestic cities, I also worked as a digital nomad for about two years, traveling and speculating in various places. But I found that I am not used to changing places frequently (about half a year is okay), and I feel a bit insecure about being displaced. So the original plan was to stay in my hometown, speculate in the second level, and live a life of a local dog. But recently I have discovered that in addition to my body and mind becoming increasingly greasy, my other personal state has not improved at all. Thinking about getting up again and building more. So I plan to live and work in Hong Kong for a while.
I would like help with these questions.
1) Where is the best place to live in Hong Kong? My budget is up to 10,000 Hong Kong dollars per month, either on the island or in Kowloon. If you live alone, just allow friends to come over occasionally. It is best to make recommendations that are accurate to the community, so that it is easier to filter.
2) Is it better to drive or take public transportation in Hong Kong? Because the way of life in China is basically to drive out, whether on weekends or to visit the surrounding areas. I feel like I can buy a second-hand car for more than RMB 100,000 in Hong Kong and drive it, but if it doesn’t drive it I can sell it again? Are travel and parking costs high? The main thing here is to find a parking space when you go out.
3) Where did people in Hong Kong generally live in the past? On the one hand, I want to have more exposure to the industry and attend meetings, and on the other hand, I want to experience more local life in Hong Kong. On the one hand, I want to build a career, but I also want to live a richer life.
4) Where do people in Hong Kong go to play more on weekends or in their free time? Can you bring your younger brother to experience life with you?
5) Anyway, I plan to stay in Hong Kong for more than a year. Is it necessary to use this time to go to school or get a Hong Kong talent certificate?
I found that many friends want to go to Hong Kong recently, but they are stuck in the same problem as me. Friends with experience in Hong Kong please spread the word @yingge818
#香港 #hk
I originally planned to stay in my hometown, but recently I found that I couldn't stay idle. Spending time in Shanghai and Beijing is no longer attractive. After living in and out of major domestic cities, I also worked as a digital nomad for about two years, traveling and speculating in various places. But I found that I am not used to changing places frequently (about half a year is okay), and I feel a bit insecure about being displaced. So the original plan was to stay in my hometown, speculate in the second level, and live a life of a local dog. But recently I have discovered that in addition to my body and mind becoming increasingly greasy, my other personal state has not improved at all. Thinking about getting up again and building more. So I plan to live and work in Hong Kong for a while.
I would like help with these questions.
1) Where is the best place to live in Hong Kong? My budget is up to 10,000 Hong Kong dollars per month, either on the island or in Kowloon. If you live alone, just allow friends to come over occasionally. It is best to make recommendations that are accurate to the community, so that it is easier to filter.
2) Is it better to drive or take public transportation in Hong Kong? Because the way of life in China is basically to drive out, whether on weekends or to visit the surrounding areas. I feel like I can buy a second-hand car for more than RMB 100,000 in Hong Kong and drive it, but if it doesn’t drive it I can sell it again? Are travel and parking costs high? The main thing here is to find a parking space when you go out.
3) Where did people in Hong Kong generally live in the past? On the one hand, I want to have more exposure to the industry and attend meetings, and on the other hand, I want to experience more local life in Hong Kong. On the one hand, I want to build a career, but I also want to live a richer life.
4) Where do people in Hong Kong go to play more on weekends or in their free time? Can you bring your younger brother to experience life with you?
5) Anyway, I plan to stay in Hong Kong for more than a year. Is it necessary to use this time to go to school or get a Hong Kong talent certificate?
I found that many friends want to go to Hong Kong recently, but they are stuck in the same problem as me. Friends with experience in Hong Kong please spread the word @yingge818
#香港 #hk
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Lucky for our friends in Hong Kong, we can buy u directly from offline stores to avoid legal risks.
Thank you brothers for your advice and sharing of information on buying u in Hong Kong.
https://coingaroo.com.hk/en/
You can search coingaroo on Google, which is really convenient.
Supports transactions in legal currencies such as RMB, Hong Kong dollars, and US dollars.
Private car transfer.
Friends, are you tempted? Let’s go to West Kowloon, Hong Kong!
#USDT #香港
Thank you brothers for your advice and sharing of information on buying u in Hong Kong.
https://coingaroo.com.hk/en/
You can search coingaroo on Google, which is really convenient.
Supports transactions in legal currencies such as RMB, Hong Kong dollars, and US dollars.
Private car transfer.
Friends, are you tempted? Let’s go to West Kowloon, Hong Kong!
#USDT #香港
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The taxi drivers in Hong Kong are the ones I respect the most. They have 4 phones and an iPad to follow orders! It takes as many minutes as you say ~ Today I flew from Vancouver to Hong Kong to meet my friends for dinner and then transferred to Southeast Asia 😅 Return to the East Eighth District for a short time ~
#BTC!💰 #香港
#BTC!💰 #香港
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I feel that if a bull market can come this year, the Hong Kong concept will be the trigger. Every bull market is driven by sectors, but the leader is definitely not CFX. There is no ecology on the chain. It just depends on the popularity of the sectors and Telecom cooperation to become the leader? This is not realistic. #crypto2023 #ETH #BTC #香港
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Report: Hong Kong cryptocurrency investors rely on short-term gains
Hong Kong cryptocurrency research reveals investors’ short-term focus, urging vigilance and reflection on resilient virtual asset strategies.
In the fast-paced world of virtual asset investing, recent research from Hong Kong has revealed interesting insights into cryptocurrency investor behavior. As we delve deeper into the Investment Committee’s report, a clearer picture emerges, highlighting the pitfalls of relying on shortcuts in the cryptocurrency market.
Notably, an examination of Hong Kong’s cryptocurrency landscape reveals common thought patterns, revealing investors’ desires and concerns.
In the fast-paced world of virtual asset investing, recent research from Hong Kong has revealed interesting insights into cryptocurrency investor behavior. As we delve deeper into the Investment Committee’s report, a clearer picture emerges, highlighting the pitfalls of relying on shortcuts in the cryptocurrency market.
Notably, an examination of Hong Kong’s cryptocurrency landscape reveals common thought patterns, revealing investors’ desires and concerns.
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Hong Kong allows digital yuan for local commerce, restricts cross-border use
Summary:
• The Hong Kong Monetary Authority (HKMA) has approved the retail use of digital RMB (e-CNY) in Hong Kong, but not for cross-border transactions.
• Hong Kong’s adoption of the digital RMB is controlled and monitored, with transaction and balance limits.
• Hong Kong promotes the development of digital RMB and improves Asia’s digital currency ecosystem through a pilot project approved by China.
The Hong Kong Monetary Authority (HKMA) has announced the acceptance of China’s digital yuan (e-CNY) for retail transactions in Hong Kong. The move, backed by China’s central bank, marks an important step in integrating digital currencies into everyday commerce.
• The Hong Kong Monetary Authority (HKMA) has approved the retail use of digital RMB (e-CNY) in Hong Kong, but not for cross-border transactions.
• Hong Kong’s adoption of the digital RMB is controlled and monitored, with transaction and balance limits.
• Hong Kong promotes the development of digital RMB and improves Asia’s digital currency ecosystem through a pilot project approved by China.
The Hong Kong Monetary Authority (HKMA) has announced the acceptance of China’s digital yuan (e-CNY) for retail transactions in Hong Kong. The move, backed by China’s central bank, marks an important step in integrating digital currencies into everyday commerce.
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Hong Kong issues Hong Kong dollar stablecoin? I will be the first to buy it!
It is reported that Wang Yang, Vice President of Hong Kong University of Science and Technology and Chief Scientific Advisor of Hong Kong Web3.0 Association, angel investor Cai Wensheng, Lei Zhibin, founder of Block City Web3.0 Technology Company, and Wen Yizhou, a doctoral student of Hong Kong University of Science and Technology, were published in the newspaper. Issued policy recommendations, proposing that Hong Kong issue a Hong Kong dollar stable currency backed by foreign exchange reserves. 👍
The SAR government’s current plan is limited to allowing and encouraging private institutions to issue Hong Kong dollar stablecoins. In our opinion, this measure is too conservative and cannot be coordinated with the SAR government’s large-scale plan to promote digital assets and digital economy.
The SAR government’s current plan is limited to allowing and encouraging private institutions to issue Hong Kong dollar stablecoins. In our opinion, this measure is too conservative and cannot be coordinated with the SAR government’s large-scale plan to promote digital assets and digital economy.
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A decision you will never regret in 2024 "Follow Hashkey Hong Kong"
Hashkey is preparing to launch its own platform currency. Is it worth investing in?
Let’s get right to the point: funding
A.
Retail funds - Hong Kong KYC users have been blocked by various platforms recently and their accounts have been canceled. When the bull market starts, where will the new retail funds go? Hashkey, which is open to Hong Kong users, will be given priority.
B.
Institutional Funding - After the JPEX incident, many institutions turned from wait-and-see to conservative. As a Hong Kong regulatory-approved platform, when the encryption craze begins, Hashkey will be the platform of choice for large institutions.
C.
Personal opinion - To be able to obtain qualifications and establish a foothold in Hong Kong, China, one must have a strong background. Maybe in the future, it will become a capital gathering point for domestic retail investors through special methods.
D.
Speculators' Funds - The popularity of platform currency has always been very low compared to other sectors, and there is nothing new. Assuming that when the bull market breaks out, HSK has two sector attributes (one is the platform currency and the other is the Hong Kong concept). Based on the new news, the popularity and liquidity of HSK will be A hot new star hyped by speculators
There are two ways to obtain the low-price platform currency $HSK in the early stage.
1.Invitation code registration
2. Purchase Chuangshi (get $HSK for free)
If you think my analysis is good, you are welcome to use my invitation code to register.
ikr
ikr
ikr
Thank you!
#香港 #香港概念 #香港加密政策
Hashkey is preparing to launch its own platform currency. Is it worth investing in?
Let’s get right to the point: funding
A.
Retail funds - Hong Kong KYC users have been blocked by various platforms recently and their accounts have been canceled. When the bull market starts, where will the new retail funds go? Hashkey, which is open to Hong Kong users, will be given priority.
B.
Institutional Funding - After the JPEX incident, many institutions turned from wait-and-see to conservative. As a Hong Kong regulatory-approved platform, when the encryption craze begins, Hashkey will be the platform of choice for large institutions.
C.
Personal opinion - To be able to obtain qualifications and establish a foothold in Hong Kong, China, one must have a strong background. Maybe in the future, it will become a capital gathering point for domestic retail investors through special methods.
D.
Speculators' Funds - The popularity of platform currency has always been very low compared to other sectors, and there is nothing new. Assuming that when the bull market breaks out, HSK has two sector attributes (one is the platform currency and the other is the Hong Kong concept). Based on the new news, the popularity and liquidity of HSK will be A hot new star hyped by speculators
There are two ways to obtain the low-price platform currency $HSK in the early stage.
1.Invitation code registration
2. Purchase Chuangshi (get $HSK for free)
If you think my analysis is good, you are welcome to use my invitation code to register.
ikr
ikr
ikr
Thank you!
#香港 #香港概念 #香港加密政策
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Hong Kong prepares to launch cryptocurrency spot ETF, taking the lead in Asia
Hong Kong’s new rules aim to increase mainstream acceptance of cryptocurrencies through cryptocurrency ETFs.
Hong Kong’s Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority (HKMA) have issued new rules addressing the possibility of investment funds, brokerage firms and asset managers offering cryptocurrency ETFs.
Exchange-traded funds (ETFs) are investment funds that trade on a stock exchange, similar to stocks. Cryptocurrency ETFs track the price of one or more cryptocurrencies. Investing in crypto ETFs can attract retail and institutional investors looking to enter the crypto market while avoiding some of the risks of directly owning crypto assets. For example, crypto ETF investors do not need to personally manage the security or custody of their crypto wallets.
Hong Kong’s Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority (HKMA) have issued new rules addressing the possibility of investment funds, brokerage firms and asset managers offering cryptocurrency ETFs.
Exchange-traded funds (ETFs) are investment funds that trade on a stock exchange, similar to stocks. Cryptocurrency ETFs track the price of one or more cryptocurrencies. Investing in crypto ETFs can attract retail and institutional investors looking to enter the crypto market while avoiding some of the risks of directly owning crypto assets. For example, crypto ETF investors do not need to personally manage the security or custody of their crypto wallets.
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Turning off crypto-friendly doesn’t mean easy! Asia has implemented some of the strictest encryption regulations in the world!
One of the major themes of 2023 is Asia’s continued rise as a crucial region in the cryptocurrency world. This is largely thanks to prominent digital asset hubs such as Singapore, as well as the re-emergence of Hong Kong and Japan.
While these jurisdictions do welcome digital assets, the hype surrounding them can be somewhat misleading. Crypto-friendly does not mean crypto is easy. These Asian jurisdictions dubbed “crypto-friendly” actually implement some of the strictest regulations in the world. Provisions.
Singapore has gained a reputation for supporting cryptocurrencies due to its early moves to regulate the industry and its consultative approach to regulators. While Singapore may be all-in on asset tokenization, in reality it is not “crypto-friendly” at all. Last year, Ravi Menon, managing director of the Monetary Authority of Singapore, gave a speech titled “Supporting Digital Asset Innovation and Opposing Cryptocurrency Speculation.”
While these jurisdictions do welcome digital assets, the hype surrounding them can be somewhat misleading. Crypto-friendly does not mean crypto is easy. These Asian jurisdictions dubbed “crypto-friendly” actually implement some of the strictest regulations in the world. Provisions.
Singapore has gained a reputation for supporting cryptocurrencies due to its early moves to regulate the industry and its consultative approach to regulators. While Singapore may be all-in on asset tokenization, in reality it is not “crypto-friendly” at all. Last year, Ravi Menon, managing director of the Monetary Authority of Singapore, gave a speech titled “Supporting Digital Asset Innovation and Opposing Cryptocurrency Speculation.”
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The People's Bank of China report emphasizes cryptocurrency regulation; Hong Kong leads in compliance
The People's Bank of China highlighted the importance of cryptocurrency regulation in its 2024 Financial Stability Report. In terms of cryptocurrency regulation, mainland China and Hong Kong have different attitudes.
China maintains a strict ban on cryptocurrency trading and mining, while Hong Kong is actively building its cryptocurrency licensing system, showcasing the two places’ different approaches to this emerging field.
Highlights of the 2024 China Financial Stability Report
In its 2024 Financial Stability Report, the People's Bank of China specifically pointed out that global attention to cryptocurrency regulation is increasing. The report mentioned that 51 jurisdictions around the world have imposed bans or major restrictions on cryptocurrency-related activities, showing the international community's attention to cryptocurrency regulation. At the same time, some countries are working to improve their regulatory frameworks to meet new challenges brought by the cryptocurrency industry.
China maintains a strict ban on cryptocurrency trading and mining, while Hong Kong is actively building its cryptocurrency licensing system, showcasing the two places’ different approaches to this emerging field.
Highlights of the 2024 China Financial Stability Report
In its 2024 Financial Stability Report, the People's Bank of China specifically pointed out that global attention to cryptocurrency regulation is increasing. The report mentioned that 51 jurisdictions around the world have imposed bans or major restrictions on cryptocurrency-related activities, showing the international community's attention to cryptocurrency regulation. At the same time, some countries are working to improve their regulatory frameworks to meet new challenges brought by the cryptocurrency industry.
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Profiting against the market trend: Hong Kong is about to launch Asia’s first inverse Bitcoin ETF
In Hong Kong, a wave of financial innovation is quietly emerging.
According to a report by the South China Morning Post on July 22, the city is about to welcome Asia’s first inverse Bitcoin exchange-traded fund (ETF), a move that undoubtedly marks an important milestone in the development of crypto financial products.
On July 23, CSOP Asset Management will officially launch its Bitcoin futures daily (-1x) inverse product under the ticker HK, providing investors with an opportunity to realize profits even when Bitcoin prices fall.
The launch of this inverse ETF not only demonstrates the market's growing and mature demand for cryptocurrency investment tools, but also reflects investors' exploration and demand for diversified investment strategies.
According to a report by the South China Morning Post on July 22, the city is about to welcome Asia’s first inverse Bitcoin exchange-traded fund (ETF), a move that undoubtedly marks an important milestone in the development of crypto financial products.
On July 23, CSOP Asset Management will officially launch its Bitcoin futures daily (-1x) inverse product under the ticker HK, providing investors with an opportunity to realize profits even when Bitcoin prices fall.
The launch of this inverse ETF not only demonstrates the market's growing and mature demand for cryptocurrency investment tools, but also reflects investors' exploration and demand for diversified investment strategies.
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Tether and USDC come under pressure after Hong Kong imposes strict stablecoin regulations
Hong Kong’s stablecoin regulation sets out strict licensing rules, posing a threat to major industry players such as Tether and Circle.
Hong Kong recently proposed strict regulations on stablecoins, signaling its ambition to become a hub for virtual assets. However, recent developments have brought potential challenges to the popular stablecoins on the market. Experts believe the policy, which is stricter than Singapore’s, could put major players such as Tether (USDT) and USD Coin (USDC) at risk.
Experts’ views on Hong Kong’s strict stablecoin regulation
According to the South China Morning Post, Chengyi Ong, head of Asia Pacific policy at Chainaanalysis, believes that Hong Kong’s stablecoin regulatory proposals are more stringent than those in Singapore. She confirmed her claim, citing a new framework that requires companies to have a minimum paid-up capital of US$3.2 million (HK$25 million) to obtain a license. Additionally, Ong noted that the regulation highlights Hong Kong’s goal to “set high standards for fiat stablecoins (FRS).”
Hong Kong recently proposed strict regulations on stablecoins, signaling its ambition to become a hub for virtual assets. However, recent developments have brought potential challenges to the popular stablecoins on the market. Experts believe the policy, which is stricter than Singapore’s, could put major players such as Tether (USDT) and USD Coin (USDC) at risk.
Experts’ views on Hong Kong’s strict stablecoin regulation
According to the South China Morning Post, Chengyi Ong, head of Asia Pacific policy at Chainaanalysis, believes that Hong Kong’s stablecoin regulatory proposals are more stringent than those in Singapore. She confirmed her claim, citing a new framework that requires companies to have a minimum paid-up capital of US$3.2 million (HK$25 million) to obtain a license. Additionally, Ong noted that the regulation highlights Hong Kong’s goal to “set high standards for fiat stablecoins (FRS).”
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