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Bitcoin On Wall Street, Outcast in Seoul: South Korea Shows Crypto Cold Shoulder Amidst US ETF Boom
Thursday, January 11, 2024 - 1:25pm | 355South Korea maintains its firm stance against recognizing virtual assets as financial assets and continues to prohibit financial institutions from investing in them. In a recent discussion, an official from South Korea's Financial Services Commission reiterated the government's consistent...
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Bitcoin ETFs: Taiwan Takes Caution Despite Global Frenzy, Citing Crypto Volatility
Tuesday, December 5, 2023 - 11:30am | 514Taiwan is cautiously approaching the introduction of cryptocurrency exchange traded funds (ETFs), with the Financial Supervisory Commission (FSC) indicating a need to closely monitor global trends in the crypto market. What Happened: The FSC has noted the significant price volatility in...
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Hong Kong Financiers Pen Letter To Lawmakers For ICO Portal In Bid To Boost Economy
Thursday, November 30, 2023 - 11:54am | 256The Hong Kong Securities and Futures Professionals Association wants to create an initial coin offering (ICO) portal as part of a broader set of recommendations aimed at enhancing economic recovery post-epidemic. What Happened: In a letter to Financial Secretary Paul Chan Mo-po and Deputy Financial...
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Investors Fume Over Hounax Scam, Blame Fraudsters On YouTube And WhatsApp Groups
Monday, November 27, 2023 - 11:33am | 458Over 130 Hong Kong citizens have fallen prey to a sophisticated cryptocurrency fraud, losing a staggering HK$120 million (US$15.4 million). The victims expressed frustration, stating that the Securities and Futures Commission's (SFC) identification of the involved platform, Hounax, as...
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OKX Follows PantherTrade Footsteps, Applies For Trading License In This 'Crypto Hub'
Tuesday, November 21, 2023 - 11:32am | 394Crypto exchange OKX has applied for a virtual asset trading platform (VATP) license in Hong Kong, positioning its Hong Kong branch, OKX Hong Kong FinTech, at the forefront of the city's efforts to become a key cryptocurrency hub in the region. The application, submitted on Nov. 16, is...
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South Korea's NPS Purchased Stake In Coinbase For $20M, Yields About 40% Profit
Thursday, November 16, 2023 - 12:57pm | 346The National Pension Service (NPS) of South Korea purchased a stake in Coinbase (NASDAQ: COIN), the largest virtual asset exchange in the U.S. What Happened: The NPS acquired approximately 282,673 shares, a $20 million (26.1 billion won) value. The deal marks the NPS’s first inclusion of...
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Hong Kong Embraces Crypto ETFs: The Gateway To Mainstream Adoption
Saturday, November 11, 2023 - 10:24am | 737Hong Kong's leaders are currently evaluating the potential to open up the market to exchange-traded funds (ETFs) that would invest directly in cryptocurrencies. This move is part of a broader initiative to establish Hong Kong as a central hub for digital assets in the Asia-Pacific region,...
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SEBA Scores SFC License To Offer A Crypto-Related Suite Of Services In Hong Kong
Wednesday, November 8, 2023 - 12:11pm | 593SEBA on Wednesday announced it has extended its regulatory reach to Asia. What Happened: The crypto bank has a new license from the Securities and Futures Commission (SFC) in Hong Kong. Through its subsidiary, SEBA Hong Kong, the firm is now authorized to offer a wide array of regulated...
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Hong Kong's SFC Signals New Era Of Virtual Asset Adoption: Will Other Regulators Follow?
Monday, October 23, 2023 - 11:13am | 453Hong Kong's key financial regulator, the Securities and Futures Commission (SFC), released a circular with the Hong Kong Monetary Authority (HKMA) on Oct. 20, acknowledging the rapidly evolving virtual asset landscape and its increasing alignment with mainstream finance. This transformation has...
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Hong Kong Investors Lose Faith In Crypto After JPEX Scandal: Survey
Wednesday, October 18, 2023 - 11:31am | 586A survey conducted by The Hong Kong University of Science and Technology's School of Business and Management shows a notable uptick in skepticism toward crypto investments among the Hong Kong populace. This shift in public sentiment is noteworthy as the global discourse around digital assets...
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EXCLUSIVE: Bittrex Global CEO Discusses Blockchain, DeFi And Trouble With UK Regulators
Thursday, September 28, 2023 - 10:52am | 520Bittrex Global CEO Oliver Linch recently spoke with Benzinga about the transformative potential of blockchain, the UK's regulatory approach, and the rise of decentralized finance (DeFi). "Nobody denies that there is something really important going on here," he stated. Linch...
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Taiwan Regulators Unveil 'Guiding Principles' To Regulate Digital Assets, Crypto
Tuesday, September 26, 2023 - 9:26am | 579In a bid to streamline the burgeoning digital currency landscape, Taiwan's Financial Supervisory Commission (FSC) has rolled out a comprehensive set of guidelines. The rules are tailored for virtual asset platforms and transaction business enterprises, or VASPs. The forthcoming Benzinga...
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Hong Kong SFC Attempts To Clean Up Crypto Industry On Heels Of JPEX Scandal
Monday, September 25, 2023 - 9:17am | 558Following the crackdown on crypto exchange JPEX, currently embroiled in a HK$1.3 billion ($166 million) scandal, Hong Kong's Securities and Futures Commission (SFC) is taking decisive steps to bolster transparency and investor protection. One of the most notable actions is the publication...
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Is South Korea A Crypto Nation? Citizens Declare Over $98B In Foreign Digital Assets
Wednesday, September 20, 2023 - 11:30am | 478South Korea's taxation body revealed that this year, individuals and firms disclosed foreign cryptocurrency assets amounting to 130.8 trillion won ($98.5 billion). This comes after South Korea mandated the declaration of foreign crypto assets, The Block reported. Incorporating this into the...
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Crypto Fraudsters Arrested In Hong Kong, Over A Billion Dollars In Assets Frozen
Tuesday, September 19, 2023 - 10:29am | 593Hong Kong authorities detained eight individuals in connection with the cryptocurrency platform JPEX on charges of conspiracy to defraud. The police disclosed that they had been inundated with 1,641 complaints regarding JPEX, with users alleging their inability to access their funds on the platform...