April 02, 2024 By Anjali Kochhar A recent report from Times of India has shed light on a concerning trend in the cryptocurrency world – the rise of the ChatGPT crypto scam. This scam has been making waves online, targeting unsuspecting individuals with promises of easy money-making opportunities tied to ChatGPT, a renowned large language […]

April 02, 2024 By Sharan Kaur Phillora HKVAEX, a crypto exchange based in Hong Kong, is shutting down due to increasing regulatory pressure. The exchange started winding down operations on April 1, 2024, planning to close completely by May 1, 2024. This decision came shortly after HKVAEX pulled its application for a Virtual Asset Trading

April 01, 2024 By Sharan Kaur Phillora Venture Smart Financial Holdings Ltd. (VSFG), a Hong Kong-based powerhouse in financial services, is introducing a spot bitcoin exchange-traded fund (ETF), which it hopes to launch as early as May. Here’s what we know: Led by Brian Chan, the group’s head of investment and products, VSFG is navigating the

April 01, 2024 By Sharan Kaur Phillora T. Raja Kumar, the President of the Financial Action Task Force (FATF), highlighted a pressing issue in cryptocurrency regulation. As of June 2023, less than 30% of jurisdictions worldwide have initiated steps to regulate the burgeoning crypto sector. Here’s what we know: Titled “Status of Implementation of Recommendation

March 29, 2024 By Anjali Kochhar The business that created the well-known stablecoin USDT, Tether, has announced a significant advancement with the creation of a specialised Artificial Intelligence (AI) section. The goal of this new division is to push AI technology forward by creating open-source AI models and encouraging partnerships to use these advancements in

March 29, 2024 By Sharan Kaur Phillora HSBC has introduced the HSBC Gold Token for retail investors in Hong Kong, becoming the first bank to introduce a blockchain-based tangible asset to the retail market. Here’s what we know: Launched through its Orion digital assets platform, the token is accessible through HSBC Online Banking and the

March 28, 2024 By Anjali Kochhar In recent years, the meteoric rise of cryptocurrencies has captured the attention of investors, regulators, and the general public alike. These digital assets, with their decentralized nature and potential for significant returns, have revolutionized the way we think about finance. However, alongside their unprecedented growth, cryptocurrencies have also brought

March 28, 2024 By Sharan Kaur Phillora Hong Kong is on the brink of significant financial innovation, considering the approval of Bitcoin spot exchange-traded Funds (ETFs) for public trading, akin to what has been seen in the United States. However, the real game-changer might be Hong Kong’s potential adoption of an “in-kind” redemption model for

March 27, 2024 By Anjali Kochhar Bitcoin the popular digital currency is making headlines again, this time with Michael Saylor, the chair of MicroStrategy Inc., praising its performance against traditional assets. Saylor recently shared a chart comparing Bitcoin’s growth with assets like the S&P 500, Nasdaq, gold, silver, and bonds. According to Saylor’s chart, Bitcoin

March 27, 2024 By Sharan Kaur Phillora In a move to safeguard investors, the Securities and Futures Commission of Hong Kong (SFC) has issued a warning about HKCEXP, a dubious trading platform falsely claiming to be registered with the regulatory body. This alert comes in the wake of the SFC setting a February 29 deadline