June 12, 2024 By Sharan Kaur Phillora HSBC Bank (China) Co Ltd has started offering e-CNY services to its corporate clients, making it the first foreign bank in China to provide such services. The announcement, made on Friday, is expected to enhance the adoption of the digital yuan in the corporate sector. Here’s what we know: […]

June 12, 2024 By Anjali Kochhar In response to rising regulatory challenges in China, Bybit, a major participant in the cryptocurrency exchange space, is taking a strategic step by transferring its Chinese workers to Dubai and Malaysia. This critical move follows the company’s recent decision to accept registrations from Chinese customers abroad, aimed at catering

June 11, 2024 By Anjali Kochhar According to a recent analysis from the British blockchain analytics startup Elliptic, artificial intelligence (AI) is increasingly being used for illegal activities in the cryptocurrency space. While AI-driven cryptocrime has yet to reach popular levels, recognizing these emerging trends is critical for supporting long-term innovation. One of the notable

June 11, 2024 By Sharan Kaur Phillora China has taken a significant step in regulating its cryptocurrency market with its first-ever criminal conviction for crypto fraud. A college student named Yang Qichao was sentenced to four and a half years in prison for fraudulently issuing a cryptocurrency, sparking a complex debate about the future of

June 10, 2024 By Anjali Kochhar JPMorgan has called attention to a major change in U.S. crypto rules, citing a move away from the issuing of non-compliant stablecoins like Tether and central bank digital currencies (CBDCs). As to the latest assessment from the bank, there is a strong probability that the Clarity for Payment Stablecoins

June 10, 2024 By Sharan Kaur Phillora In a recent address at the Greenwich Economic Forum Hong Kong, Julia Leung, the chief executive of the Hong Kong Securities and Futures Commission (SFC), highlighted Bitcoin’s resilience and its status as an alternative asset. Leung’s remarks come at a pivotal time as Hong Kong’s regulatory landscape for

June 7, 2024 By Anjali Kochhar Many bitcoin exchanges in Hong Kong that are “deemed to be licensed” remain upbeat about the city’s virtual asset industry, despite recent withdrawals. Eleven businesses have made progress toward gaining a license thanks to Hong Kong’s stringent regulatory framework, while others are doubting the feasibility of operating in such

June 7, 2024 By Sharan Kaur Phillora In a surprising development, Bybit, the third-largest offshore cryptocurrency exchange, has reportedly opened its registration and authentication services to users in China. This move marks a significant shift in Bybit’s operational policy, as the platform had previously restricted access to Chinese users due to the country’s stringent regulations

June 6, 2024 By Sharan Kaur Phillora Livio Weng, CEO of HashKey Exchange, has suggested that Hong Kong’s financial regulator, the Securities and Futures Commission (SFC), may have considered the user base from a “sensitive region” when reviewing license applications from international crypto exchanges. Here’s what we know: In an interview, Weng indicated that this

June 6, 2024 By Anjali Kochhar Speculation is rife as China’s digital yuan app, the cornerstone of its Central Bank Digital Currency (CBDC) initiative, quietly shed its ‘pilot’ descriptor. The move, made without official announcement, has sparked conjecture regarding an imminent transition to production-ready status and a potential nationwide rollout. While Chinese authorities attribute the