Hk cryptocurrency exchange
Hong Kong has not followed China and other jurisdictions in effectively banning cryptocurrency trading and initial coin offerings ICOs. However, the government and regulators are monitoring developments to guard against efforts to circumvent regulatory requirements in pursuit of market protection. The potential risks and related regulatory concerns relating to cryptocurrency exchanges and investing in ICOs will continue to be a central focus. In light of investor concerns and recent events relating to cryptocurrencies and ICOs, the Hong Kong Securities and Futures Commission the SFC issued a statement on 9 February reiterating the need for regulatory compliance. Timely reminder.
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- Cryptocurrency exchanges and custody providers: International regulatory developments
- Major Hong Kong Winemaker is Buying a Japanese Cryptocurrency Exchange
- How to Legally Deal With Cryptocurrency in Hong Kong
- Are cryptocurrency trading platforms regulated?
- Discussion Paper on Crypto-assets and Stablecoins
- How China’s Ban on Cryptocurrency Will Ripple Overseas
- Hong Kong reviews cryptocurrency regulations
- Cryptocurrency giant chooses Hong Kong for IPO
Cryptocurrency exchanges and custody providers: International regulatory developments
According to an online encyclopaedia , an IPO, or Initial Public Offering, also known as a stock market launch is a type of public offering in which shares of a company are sold to institutional investors and usually also retail individual investors. An IPO is underwritten by one or more investment banks, who also arrange for the shares to be listed on one or more stock exchanges.
Through this process, colloquially known as floating , or going public , a privately held company is transformed into a public company. Initial public offerings can be used: to raise new equity capital for the company concerned; to monetize the investments of private shareholders such as company founders or private equity investors, and to enable easy trading of existing holdings or future capital raising by becoming publicly traded enterprises. According to the posted application , various details have been redacted, including the number of shares that will be offered and the timetable for the public offering.
The company said it will use the proceeds of the IPO to invest in research and development and expand its production output. The firm designs different microchips specialized for mining cryptocurrencies and for artificial intelligence applications, as well as manufacturing cryptocurrency and AI hardware, and managing crypto mining farms. This fall has hurt the profitability of mining, and in turn, has been weighing on sales of mining hardware. The company is the third, and largest, Chinese maker, of bitcoin miners hoping to float in Hong Kong this year.
It had 85 per cent share of the cryptocurrency mining rig market in according to research conducted by a sell-side research and brokerage services provider.
In April, the Hong Kong bourse changed its rules to allow some companies with two classes of shares to list, in a bid to lure listings from large innovative companies. The move is an attempt to promote the use and development of the EV sector. According to a news report , the policy is under discussion with the Ministry of Railways.
NITI Aayog has suggested that while the railways can plan to put in place EV charging facilities at all stations in a phased manner till , the facility can be immediately provided at redeveloped railway stations. The NITI Aayog CEO, Amitabh Kant, explained that railway stations are landmark locations, and they play a unique role in the entire transport sector, which makes them strategic locations to provide public charging solutions for EVs.
The aim is to support nearly 7, e-buses, , electric three-wheelers, 55, electric four-wheeler passenger cars, and one million electric two-wheelers through subsidies. To achieve this, providing a good and accessible EV charging infrastructure network is critical.
Apart from the already-existing government initiatives to scale up EV charging facilities, railway stations can provide a secure and accessible charging infrastructure to city residents. Earlier this month, researchers from several Indian Institutes of Technology IITs developed new technology to charge EVs, which costs about half of the current onboard charger technology. It can help considerably reduce the cost of two-and-four-wheeler EVs.
As per a report , the lab-scale development of the technology is complete and up-gradation and commercialisation are in progress. A representative explained that amidst the rising cost of petroleum products and increasing pollution levels, EVs are the best alternative to conventional IC engines.
However, the lack of a high-power off-board charging infrastructure forces automakers to incorporate onboard chargers into the vehicle itself. In the proposed onboard charger technology, the team is reducing an additional power electronics interface required for the propulsion mode and, therefore, the components involved are reduced.
The cost reduction in the chargers will subsequently reduce the cost of the EVs as well. An official noted that the technology will be entirely indigenously developed and will have a significant impact on the EV market. A team of scientists from Nanyang Technological University, Singapore NTU Singapore has developed a predictive computer programme that could be used to detect individuals who are at increased risk of depression.
Activity trackers are estimated to be worn by nearly a billion people, up from million in To develop the Ycogni model, the scientists conducted a study involving working adults in Singapore. Participants wore devices for 14 consecutive days and completed two health surveys, which screened for depressive symptoms, at the start and end of the study. Our study successfully showed that we could harness sensor data from wearables to aid in detecting the risk of developing depression in individuals.
By tapping on our machine learning programme, as well as the increasing popularity of wearable devices, it could one day be used for timely and unobtrusive depression screening. This is a study that can set up the basis for using wearable technology to help individuals, researchers mental health practitioners and policymakers to improve mental well-being.
But on a more generic and futuristic application, the researchers believe that such signals could be integrated with Smart Buildings or even Smart Cities initiatives: imagine a hospital or a military unit that could use these signals to identify people at risk. From analysing their findings, the scientists found that those who had more varied heart rates between 2 am to 4 am, and between 4 am to 6 am, tended to be prone to more severe depressive symptoms.
This observation confirms findings from previous studies, which had stated that changes in heart rate during sleep might be a valid physiological marker of depression. Over the next year, the team hopes to explore the impact of smartphone usage on depressive symptoms and the risk of developing depression by enriching their model with data on smartphone usage.
This includes how long and frequent individuals use their mobile phones, as well as their reliance on social media. A group of university scientists recently developed a laser-powered device that can trap and move viruses using light.
The technology would also benefit vaccine development as it allows scientists to identify damaged or incomplete viruses from a group of thousands of other specimens in under one minute, compared to present techniques that are time-consuming and inaccurate, according to the scientists.
We only know their average behaviour as an entire population. With our laser-based technology, single viruses could be studied individually. Digital transactions in the Philippines are expected to further increase as regulators and other stakeholders continue to strengthen the system and put additional safeguards to thwart financial transaction-related cyberattacks.
While the central bank has received more complaints pertaining to online banking transactions compared to those related to automated teller machines ATMs and credit cards, since the pandemic started in , Diokno stated that he does not consider the lack of public confidence as a major constraint to the use of online transactions.
The biggest challenges in encouraging Filipinos to adopt digital payments are financial exclusion, lack of substantial savings to put in an account, lack of awareness of the need to maintain an account, and inability to meet documentary requirements to open an account. He noted that these issues are aggravated by problems with Internet connectivity, which is among the primary tools needed for digital financial services.
The feature aims to incentivise customers to use PESONet for greater convenience, faster settlements, and better liquidity management. The Malaysia Digital Economy Corporation MDEC in collaboration with a fintech group recently announced a strategic partnership to enhance initiatives aimed at scaling up Malaysian fintech companies.
Their collaborative efforts will focus on three key areas, namely deal flows, fintech ecosystem support and joint amplification. MDEC will curate deal flows and funnel potential Malaysian fintech companies to the fintech group. The group, through its regional network, will explore funding facilitation opportunities for Malaysian Technology companies, especially Fintech start-ups, for potential investment and acquisition.
The CEO of MDEC stated that by working closely with fintech ecosystem partners, MDEC is optimistic that the partnership will create more opportunities for these companies to advance their businesses with access to regional markets and funding.
The Executive Director of the company stated that Malaysia presents a conducive investment environment, backed by an abundance of talents and infrastructure and a thriving start-up ecosystem filled with high-potential ideas, products and services. In addition, Malaysia recently launched its latest financial sector blueprint for at MyFintechWeek The blueprint identified three broad themes that influence desired outcomes and targets for — finance for all, finance for transformation, and finance for sustainability.
Through the partnership, the two sides will innovate in the 5G space and enable 5G frameworks validation. They will promote research towards the development of a low-cost and low-frequency 5G network setup for better connectivity in far-flung parts of the country. The objective of this partnership is to create a 5G base station and a single-box solution to enable better connectivity in rural areas.
The private player, a global technology consulting company, will provide its expertise on the research capabilities and offer relevant infrastructure to support this initiative. An expert stated that 5G promises to facilitate the next level of innovation to build a smarter society, but it is important to ensure that these benefits reach every part of the country.
The partnership aims to leverage the technology to connect people from remote parts of India in a better way. The goal of the project is to build a testbed that closely resembles real-world 5G deployment. A representative from the Department of Electrical Engineering at IIT-Madras said that the 5G technology has immense potential and could prove to be the best option to bridge the digital divide in India. For evolved urban areas, it will help advance and enhance the benefits of digital technologies over a faster connectivity network.
The partnership will build and validate use cases leveraging the 5G testbed for application in domains like smart manufacturing, Industry 4. Last November, the Minister of Communication announced that the government would indigenously design and manufacture telecom software and equipment to run 6G networks. The technology will also be exported to other countries.
Apart from 6G, the government also plans to launch indigenous 5G technology, with the development of core software for the technology to be completed by the third quarter of next year. As OpenGov Asia reported earlier, the auctions for the 5G spectrum are also likely to happen in the second quarter of TRAI has granted an extension to the telcos for 5G trials, and the deadline has been shifted to 31 March Earlier this year, the Cabinet had approved a set of nine structural and procedural reforms to address the short-term liquidity needs as well as long-term issues of telecom companies.
As part of these reforms, the government had given the telcos an option to go for a four-year moratorium on payment of deferred spectrum and adjusted gross revenue dues. Currently, India ranks second in the average data usage in the world. The average data usage in India was 13 GB per month till the year , which increased to By , the average data consumption in India is expected to be 40 GB per month.
Plate stated that the Government is preparing 4G as the backbone and 5G experience during the motorbike racing. This is part of the support for the telecommunications infrastructure sector to make the Mandalika motorbike racing sporting a success. In fact, the Ministry of Communication and Informatics has also increased bandwidth and prepared a 5G showcase.
At this time 4G will be the backbone of communication, but we are also preparing for a 5G experience. Some internet service providers are also ready for the 5G experience. In the Mandalika area, we have prepared and we will take good care of it. Also prepared for millimetre wave to showcase demo 5G high spectrum 26 and 28 GHz. Even then, we prepare for them to prepare a 5G experience.
Plate, Minister of Communications and Informatics. Meanwhile, one telecommunications operator will also show a 5G case with fixed wireless access technology and immersive extended reality in the form of virtual racing.
There will be a lot of 5G that will be placed in Mandalika for the experience using virtual reality that can be witnessed later. In essence, the cooperation between the Ministry and cellular operators as well as fibre optic operators is continuously coordinated. To anticipate the increase in telecommunication users, the Ministry of Communication and Informatics has prepared an additional spectrum so that the Mandalika motorbike racing will run well.
There will be thousand visitors to Mandalika, which means the traffic bandwidth is high. We must prepare sufficient bandwidth so that the internet upload and download speeds are also smooth.
The average use of the lowest internet capacity between Mbps speed must be prepared. Currently, the Ministry of Communication and Informatics has measured the availability in the Mandalika area above 10 Mbps. When a lot of people come, it will definitely have an effect. So that during the competition, everyone needs internet service, the Ministry will take care of this service properly so that they prepare 4G and 5G in massive areas.
Nonetheless, when compared to other Asian countries, it has a low internet penetration rate. The penetration rate is the proportion of the total population that has internet access via a mobile broadband connection.
With increasing mobile internet penetration in the country, there has been an increase in demand for lower data prices, greater coverage, and better service quality. As a key strategy to attract more customers, Indonesian internet providers have proposed attractive data pricing plans as well as optimised data-oriented mobile services.
Moreover, on the popularity of mobile internet, fixed broadband subscriptions in Indonesia have been increasing in recent years.
Major Hong Kong Winemaker is Buying a Japanese Cryptocurrency Exchange
Binance is considered a safe cryptocurrency exchange. Binance provides 2-factor authentication and offers both multi signature wallets and cold storage options. The exchange has developed a multi-level account system with an individual approach to each customer, from Bitcoin beginners to institutional traders. CEX shows a required level of security and due diligence for storage, processing and transmission of payment card data. Since its foundation in , it has grown to serve over 2 million customers across countries and today has over 40 employees. Coinmama is a really simple exchange, which makes a perfect platform for safe, secure and quick transactions.
How to Legally Deal With Cryptocurrency in Hong Kong
Cryptocurrency is becoming increasingly popular in Hong Kong, with hundreds of Bitcoin ATMs around the city and exchange headquarters relocating from China. For those in Hong Kong looking to invest in cryptocurrency, here is everything you need to know about wallets, ATMs, OTC exchange services, and online purchasing options. There are several ways to acquire crypto in Hong Kong, with both local and global options available, in person and online. Among these, there are various kinds of crypto exchanges , from peer-to-peer and overseas to over-the-counter OTC. For those just starting out, in order to buy cryptocurrency, a crypto wallet is a necessity. Several exchange services also provide a wallet service, to more conveniently buy, sell, and store in one place. Once you have your wallet set up, either visit a Bitcoin ATM or purchase crypto online. There are several Bitcoin ATMs all across Hong Kong, online, and over the counter exchanges to meet all cryptocurrency needs. To get you started on your investments , we have compiled a list of wallets, ATMs, and cryptocurrency exchanges in Hong Kong. Coinbase was founded in with a vision to expand the crypto-economy and make buying and selling of crypto easy, secure, and for everyone.
Representations of the virtual currency Bitcoin and Ethereum stand on a motherboard in this picture illustration taken May 20, HONG KONG, May 21 Reuters - Cryptocurrency exchanges operating in Hong Kong will have to be licenced by the city's markets regulator and will only be allowed to provide services to professional investors, according to government proposals published on Friday. Governments and financial regulators around the world are still assessing whether and how they should regulate the cryptocurrency industry. Investor protection and preventing money laundering are particular concerns.
Are cryptocurrency trading platforms regulated?
Welcome to Binance! Trusted by millions of users worldwide. Get started today and buy, sell and store Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Binance Coin, and more, all with some of the lowest fees in crypto. Simply add a debit or credit card to buy and sell crypto instantly. Store your crypto safely with the Binance app.
Discussion Paper on Crypto-assets and Stablecoins
First published on Thomson Reuters Regulatory Intelligence on September 5, Cryptocurrency exchanges, also known as digital currency exchanges or cryptoexchanges, are essentially businesses that allow customers to trade cryptocurrencies or digital currencies for other assets including conventional fiat money or different digital currencies. They can also be market makers that take bid-ask spreads as transaction commissions for their services or charge fees as a matching platform. Cryptocurrency exchanges are becoming integral to the crypto-asset ecosystem. Like crypto-assets in general, the rise of cryptocurrency exchanges has not yet raised sufficient concerns from a financial stability perspective, but their impact on consumer protection and money laundering has prompted regulatory intervention. In this article we briefly consider the international regulatory response to cryptocurrency exchanges and custody providers. The report noted in particular that while crypto-asset platforms are yet to pose a threat to financial stability, it was important to coordinate the work with other financial regulators such as the Basel Committee on Banking Supervision and the International Organization of Securities Commissions IOSCO given the consumer protection and money laundering concerns.
How China’s Ban on Cryptocurrency Will Ripple Overseas
A man walks past an advertisement for Bitcoin and other cryptocurrencies in Hong Kong. On 24 September, China issued a blanket ban on all cryptocurrency transactions and mining, pressuring crypto and blockchain-related stocks. Photo: EPA. Cryptocurrency-linked stocks dropped in Hong Kong on Monday morning, after Chinese authorities intensified their clampdown on the industry, while major cryptocurrencies steadied.
Hong Kong reviews cryptocurrency regulationsRELATED VIDEO: Why you should set up a crypto trading business in Hong Kong?
Customers of a cryptocurrency exchange in Hong Kong say they aren't able to withdraw their money or tokens from the exchange and some have filed reports to the police about the matter, Bloomberg reported Friday. Dozens of clients of exchange Coinsuper haven't been able to make withdrawals since late November, the report said, citing a review of messages on the company's official Telegram chat. Bloomberg reported that Coinsuper executives didn't respond to calls and messages seeking comment. A Hong Kong police spokesperson, responding by email to the news agency's inquiry about the Coinsuper complaints, said it's investigating one case where a person who purchased cryptocurrency "via an investment company" hadn't been able to withdraw her funds since December.
Cryptocurrency giant chooses Hong Kong for IPO
This exchange offers more than different currencies, reasonable fees, and discounts for those who hold a significant stake in Crypto. Its ecosystem of crypto-related products could make it a good choice for those looking to do a lot with their cryptocurrency. Consult with a qualified professional before making any financial decisions. This article is not a recommendation by Investopedia or the writer to invest in cryptocurrencies nor can the accuracy or timeliness of the information be guaranteed. Users can buy, sell, and trade an extensive list of currencies, and enjoy relatively low trading fees. Additionally, the company offers cryptocurrency credit cards, a decentralized exchange, a standalone crypto wallet, and an NFT marketplace.
We are Bitcoin and Cryptocurrency trading experts. We have decades of collective experience in the crypto space. With our head office based in Hong Kong, Genesis Block is proudly serving our community as the first stop for all things Bitcoin , Crypto, and Blockchain.