The city’s new licensing regime paves the way for exchanges to operate legally but tough compliance requirements could cost firms as much as $20 million, industry insiders say.
Hong Kong Lawmaker to Explore Digital Asset Link With Mainland China
Johnny Ng floated the possibility of licensed Hong Kong exchanges being connected with Shanghai’s exchanges.
Binance Japan Starts Onboarding Users
Two years earlier, the exchange was warned by Japanese regulators that it was operating in the country without permission.
Singapore High Court Declares Crypto as Property in Case Involving Bybit
The ruling held that a crypto asset is a “thing in action” enforceable via court orders.
Japan Signals More Web3 Promotion Policies Are To Come
Japan’s Prime Minister Fumio Kishida said on Tuesday that the country plans to improve the environment for Web3 when it comes to using tokens and revitalize the content industry.
Meet the Hong Kong Lawmaker Who Invited Coinbase to Town
Legislative Council member Johnny Ng is courting crypto exchanges to get licensed in the city as the U.S. drives digital asset firms offshore.
Myanmar Shadow Government to Start Neobank With Crypto Rails to Fund Fight Against Military Junta
The National Unity Government bank is set to run on Polygon and do currency swaps via Uniswap v3 pools and USDT stablecoins.
South Korea Wants Companies to Disclose Crypto Holdings
Companies that issue or own crypto will have to make disclosures in their financial statements from next year onwards, say draft rules.
Circle Considers Issuing Stablecoin in Japan Under New Rules
The issuer of the USD coin is considering introducing a stablecoin in Japan, under the country’s new regulatory framework.
Singapore Bank DBS Starts e-CNY Collection Platform
The newly launched merchant collection solution allows businesses automated settlement of e-CNY into their CNY bank deposit accounts.
South Korea Passes Crypto Bill for User Protection
The bill marks the country’s first step towards a digital asset legal framework.
Stablecoin Issuer Circle Receives Digital Token License in Singapore
The issuer of USDC received in-principle approval in November last year.
Hong Kong Securities Regulator to Accept License Applications for Crypto Exchanges Starting June 1
The Securities and Futures Commission’s guidelines explicitly ban crypto gifts to incentivize retail investments, which likely includes airdrops.
Malaysia Says Crypto Exchange Huobi Global Isn’t Registered, Must Cease Operations
The country’s regulator told CEO Leon Li to ensure the website and mobile apps are disabled.
Ripple Starts Platform for Central Banks to Issue Their CBDCs
The firm will also showcase a real estate tokenization product as part of Hong Kong Monetary Authority’s e-HKD pilot.
Even Licensed Firms Say Opening Bank Accounts Is Hard in Hong Kong
Hong Kong has said it wants to be a crypto hub but its banks are rejecting account opening applications
South Korea Probes Crypto Exchanges Upbit, Bithumb on Ex-Lawmaker’s Transfers
Lawmaker Kim Nam-kuk resigned from the opposition party after his crypto transfers incited controversy.
South Korea Authorities Investigate Lawmaker Over Suspicious Crypto Transfers: Report
Democratic Party lawmaker Kim Nam-kuk had reportedly co-sponsored a bill seeking to defer taxation on crypto profits.
Binance Japan Will Start Operations After June
The world’s largest crypto exchange acquired Sakura Exchange BitCoin last November.
Hong Kong Regulator Reminds Local Banks There Is No Ban on Crypto Firms
Crypto companies have complained that opening bank accounts in the jurisdiction is difficult.