Hong kong cryptocurrency trading
A cryptocurrency trader who had been kidnapped for almost a week managed a dramatic escape after he was tortured with a hammer and suffered multiple fractures on his arms and legs. The victim, who sustained multiple fractures on his arms and legs, managed to escape through a window of a metal hut in Nam Hang Tsuen rural village in northern Tai Po last Friday Nov He was later rushed to a hospital, and was said to have undergone his second surgery on Sunday night. The victim was then taken to a unit of an industrial building nearby, where several men inside assaulted him with a hammer and an iron bars, severely injuring him and kidnapped him.
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- Collapse of crypto platform a cautionary tale
- How China’s Ban on Cryptocurrency Will Ripple Overseas
- Growing Crypto Engagement Carries Risks for SE Asian Banks
- How to buy Bitcoin (BTC) in Hong Kong
- Hong Kong SFC sounds warning over cryptocurrency futures
- Are cryptocurrency trading platforms regulated?
- Cryptocurrency-linked stocks slide in Hong Kong trading but Bitcoin steadies
- Mind your step: Hong Kong SFC warns of cryptocurrency and ICO risks
- Crypto exchange Binance halts new Hong Kong futures accounts
Collapse of crypto platform a cautionary tale
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. Cryptocurrencies such as bitcoin and ether have been on a roller-coaster ride this week which has raised further questions about their potential as mainstream investments.
Dozens of cryptocurrency exchanges operate in Hong Kong, including some of the world's largest. The city currently has an "opt in" approach under which exchanges can apply to be licenced by markets watchdog the Securities and Futures Commission, but do not have to. The FSTB said on Friday in its consultation conclusions all virtual asset crypto currency exchanges should be licensed if they wished to operate in Hong Kong.
It also said "confining the services of a VA exchange to professional investors Local financial technology and crypto industry associations have opposed regulation stopping exchanges from offering services to retail investors, warning this could drive exchanges out of Hong Kong and push investors onto unregulated venues. Regulators and governments in Asia have different attitudes to regulating cryptocurrencies and the exchanges on which they are traded. Under Singapore's regime, crypto exchanges must be licenced, but can have retail investors as clients.
The FSTB said it intends to propose legislative changes to turn its proposals into law in the upcoming session of the city's legislative assembly. Subscribe to our daily curated newsletter to receive the latest exclusive Reuters coverage delivered to your inbox.
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How China’s Ban on Cryptocurrency Will Ripple Overseas
Growing Crypto Engagement Carries Risks for SE Asian Banks
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. 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. It also allows users to stake their crypto, or hold it in a Crypto. For those looking to buy and hold currencies like Bitcoin and Ethereum, Crypto. Fees are limited to 0. Remember that the cryptocurrency market is volatile and these investments are considered high-risk , so only invest money you can afford to lose. 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.
How to buy Bitcoin (BTC) in Hong Kong
However, the set of comprehensive rules is changing. As a global financial hub, Hong Kong has been seeking to attract financial technology FinTech innovation — the city hosts a BIS Innovation Hub — whilst managing the potential risks that it brings. The city hosts 58 Bitcoin ATMs. Currently, individuals in Hong Kong can purchase Bitcoin and other cryptocurrencies from Bitcoin ATMs, exchanges and other individuals. The SFC Securities and Futures Commission is bringing in a new regulatory regime consultation ending in Jan 31, around cryptocurrency exchanges and their offerings to retail traders.
Hong Kong SFC sounds warning over cryptocurrency futures
The largest crypto exchange by reported turnover said in a Twitter post that the move is effective immediately. With immediate effect, users from Hong Kong cannot open new futures accounts on Binance. As a market leader, Binance is the first major crypto exchange to proactively take this action. The former British colony has tightened its oversight on cryptocurrency trading and requires all platforms to register with a local watchdog, and be subject to anti-money laundering and counter-terrorism financing rules. They can only serve professional investors, not retail traders, according to a government announcement in late May. Binance, which has come under scrutiny in recent months from regulators in countries including the U.
Are cryptocurrency trading platforms regulated?
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Cryptocurrency-linked stocks slide in Hong Kong trading but Bitcoin steadies
Currently, retail investors are allowed to purchase and trade cryptocurrency in Hong Kong. However, cryptocurrency is considered a virtual commodity and not legal tender. Because of this label, there is still a lot of grey area when it comes to the crypto market in Hong Kong. Despite this, the comprehensive rules that have governed cryptocurrency in the area are beginning to change.
Mind your step: Hong Kong SFC warns of cryptocurrency and ICO risks
The market will re-open as usual on 4 February. For detailed trading arrangements, including Stock Connect information, please click here. Find out more about listing with HKEX. The global home of the IPO.
Crypto exchange Binance halts new Hong Kong futures accounts
Twelve months after Melbourne based cryptocurrency platform ACX ceased operating and froze the accounts of its users, investors caught up in the debacle are none the wiser to what happened. ACX has been banned for life by the peak industry body while the financial intelligence regulator AUSTRAC has revoked the digital currency license used by the platform. Yet investors still have no visibility over a path to restitution or justice. Many of them believe they are victims of a well-planned scam and have given up hope of ever getting their money back. According to its website, the exchange was managed by Blockchain Global Ltd and had operated since at least Blockchain Global positioned itself as a successful investor in crypto-adjacent businesses after early successes investing in bitcoin.
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.