June 26, 2024 By Sharan Kaur Philllora Hong Kong is moving a step further towards regulating cryptocurrencies and Web3 technologies by establishing a dedicated subcommittee within its Legislative Council. This move underscores the city’s ambition to position itself as a global hub for digital asset innovation while ensuring proper oversight and investor protection. Here’s what we […]

June 25, 2024 By Anjali Kochhar Standard Chartered Plc is going to lead the way among major banks by establishing a trading desk dedicated to Bitcoin and Ether, according to persons familiar with the situation. This is a big step forward as the bank wants to integrate cryptocurrency trading into its Foreign Exchange (FX) operations,

June 25, 2024 By Sharan Kaur Phillora In a significant revelation, a senior Chinese official has claimed that approximately 25,000 blockchain companies in China may have attempted to issue their own cryptocurrencies. This figure represents about 89% of the country’s blockchain firms, according to Yedong Zhu, president of the government-backed Beijing Blockchain Application Association. Here’s

June 24, 2024 By Sharan Kaur Phillora Singapore has released its updated Money Laundering National Risk Assessment (MLNRA), highlighting significant risks and vulnerabilities associated with digital payment token (DPT) service providers in the anti-money laundering (AML) landscape. Here’s what we know: The comprehensive 126-page report, published on June 20, 2024, identifies new risk sectors not

June 24, 2024 By Anjali Kochhar Tencent has emerged as a prominent player in the Chinese market for the mBridge cross-border central bank digital currency (CBDC) solution, which just released a minimum viable product (MVP). Tencent, which controls WeChat Pay, China’s largest mobile payment service with 1.1 billion monthly active users, is one of nine

June 21, 2024 By Anjali Kochhar In an exclusive conversation with our correspondent Anjali Kochhar, BitSave founder Zakhil Suresh speaks about cryptocurrencies, blockchain use cases and how BitSave is solving a problem of security in the space. 1 . Tell us more about BitSave and how you came up with the concept. BitSave is a

June 21, 2024 By Sharan Kaur Phillora Hashdex, a leading digital asset investment firm, has presented a proposal to the Securities and Exchange Commission (SEC) for the establishment of a novel exchange-traded fund (ETF). The proposed Hashdex Nasdaq Crypto Index US ETF aims to provide investors with exposure to Bitcoin and Ethereum, the two most prominent

June 20, 2024 By Anjali Kochhar HashKey Group, an Asia-based crypto services company, has unveiled plans to airdrop its native token, HSK, ahead of its listing on the platform in Q3 2024. The Hong Kong-based company aims to enhance the utility and adoption of the token within the HashKey ecosystem. According to a press release,

June 20, 2024 By Sharan Kaur Phillora Bybit, a major cryptocurrency exchange, has announced that Chinese users living outside of mainland China can now open accounts and use its services. This move has not faced any opposition from the Chinese government so far, leading to a frenzy in the crypto space. Industry analysts are projecting

June 19, 2024 By Sharan Kaur Phillora Ethiopia is emerging as an unlikely hotspot for Bitcoin mining as its cheap electricity and openness to the crypto industry attracts Chinese companies. The East African nation has inked power deals with 21 Bitcoin mining firms, 19 of which are Chinese, fueling a surge in mining activity. Here’s