Bitcoin 

Hong Kong Is Paying Higher Prices for Bitcoin Amid Political Unrest

Bitcoin (BTC) has begun trading at a premium in Hong Kong as continued political uncertainty produces a widely-reported spike in demand.  Copycat moves underline fiat distrust Data from P2P Bitcoin exchange LocalBitcoins showed traders paying around $300 more per coin than elsewhere on Aug. 14, which translates into a premium of around 2%. Hong Kong is the latest jurisdiction to see investors stump up a higher implied USD price for the cryptocurrency, with Argentina notably in a similar situation this week. As Cointelegraph reported, the premium there, which at one…

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Blockchain 

Hong Kong’s Flagship Airline Cathay Pacific Uses Blockchain in ULDs

Hong Kong’s flagship airline Cathay Pacific has introduced the first blockchain project to manage unit load devices (ULDs). Cathay plans to roll out the tech across the entire network The new project intends to eliminate paper-based processes by implementing a blockchain application that allows to instantly manage ULDs through a smartphone, according to a report by air cargo publication Air Cargo News on Aug. 1. Cathay, a founding member of major global aviation alliance Oneworld, reportedly launched its blockchain ULD project in July, targeting first transactions in Hong Kong and…

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Ethereum 

Hong Kong Extends Migrant Policy to Facilitate DLT and FinTech Professionals

A new Hong Kong government initiative seeks to attract professionals in Distributed Ledger Technology (DLT) by simplifying the immigration policy, according to a press release published August 28. On Thursday, the government of Hong Kong published its first Talent List aimed at attracting “highly skilled” experts in 11 different fields, including fintech, DLT, and cyber security, from around the world. The move designates the government’s intention to “support Hong Kong’s development as a high value-added and diversified economy.” According to the press release, Hong Kong will facilitate successful applicants under…

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Blockchain 

Major Hong Kong Property Firm to Seek Regulatory Approval for Tokenized Real Estate

Family-owned property firm Stan Group — which represents the assets of “shop king” real estate scion Tang Shing-bor — is set to meet with Hong Kong’s securities watchdog in January 2020 to seek approval for the sale of tokenized real estate assets. Hong Kong English-language newspaper South China Morning Post (SCMP) reported the news on June 12. Stan Group is reported to have a real estate portfolio estimated at over HK$50 billion ($6.38 billion). Against the backdrop of reportedly lacklustre sentiment in the local property market amid escalating trade tensions…

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Bitcoin 

Hong Kong’s Securities Regulator Calls for Crypto Regulation to Confront Fraud

The Securities and Futures Commission (SFC) of Hong Kong has expressed concern over the lack of regulation for dealing with fraud in the crypto space, local news agency The Standard reports May 30. SFC enforcement chief Thomas Atkinson has recently pointed out problems associated with the existing regulatory uncertainty over initial coin offerings (ICOs) and cryptocurrency trading. Atkinson, who resigned from Canada’s largest securities enforcement authority, the Ontario Securities Commission (OSC), back in 2016, emphasized that the structure of certain crypto exchanges is “beyond the scope of the SFC,” the…

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Bitcoin 

Hong Kong Cryptocurrency Exchange Bitfinex Removes $10k Minimum Equity Requirement

Bitfinex, a cryptocurrency exchange based out of Hong Kong, announced that it had removed the minimum equity for its users in a Medium post published on April 9. Per the announcement, the company reconsidered its requirement — which had been set at $10,000 — due to demand from traders. The exchange’s CEO, Jean-Louis van der Velde, is quoted in the post as stating: “We simply could not ignore the increasing level of requests for access to trade on Bitfinex from a wider cohort than our traditional customer base. For the…

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Bitcoin 

Hong Kong’s Securities Regulator Issues Detailed Guidance for Security Token Offerings

Hong Kong’s securities regulator, the Securities and Futures Commission (SFC) has issued official guidance on security token offerings (STOs), in a statement published on March 28. The guidance aims to clarify the legal and regulatory requirements for parties engaging in STO-related activities. The document opens with a proposed working definition of a security token and sale, noting that: “STOs typically refer to specific offerings which are structured to have features of traditional securities offerings, and involve Security Tokens which are digital representations of ownership of assets (eg, gold or real…

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Blockchain 

Chinese IT Giant Tencent and University of Hong Kong Collaborate on Fintech

Tencent Financial Academy, a subsidiary of Chinese IT giant Tencent — signed a memorandum of cooperation with the University of Hong Kong on March 6 for joint research and development projects related to financial technology. Chinese media outlet QQ reported about the deal on March 7. The collaboration reportedly involves joint research and development of fintech projects between the financial technology and blockchain lab of the department of computer science at the University of Hong Kong in cooperation with Tencent. According to the article, the University of Hong Kong will…

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Bitcoin 

Hong Kong Entrepreneur Who ‘Made It Rain’ from High-Rise Arrested for Crypto Mining Fraud

A purported Bitcoin millionaire (BTC) who was previously involved in “making it rain cash” on the streets of Hong Kong, has reportedly been arrested for mining-related fraud, the South China Morning Post reports Thursday, Feb. 28. A 25-year old businessman named Wong Ching-kit and his 20-year-old colleague have purportedly been arrested by Commercial Crime Bureau officers at their office in Hong Kong. They are reportedly being held in custody for conspiracy to defraud investors by selling them cryptocurrency mining machines. Details on how or why these miner-related sales were considered…

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Cryptocurrency 

Hybrid Summit 2019 in Hong Kong

Hong Kong blockchain week is right around the corner! Hybrid Summit has decided to host its annual event in China this year.  Last year, the blockchain-centered educational event was held in Bangkok Thailand and in 2017, it was held in Studio City, Macau. Hybrid Summit 2019 will be held on March 7th at the AsiaWorld Expo. Hybrid Summit 2019 Hong Kong blockchain week will kick off on March 4th and will conclude on the 8th. The week starts off with a sunset cocktail hour for VIP ticket holders only. On…

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