BlockNews Completes $2 Million Financing With Hong Kong-Based Thoughtcast Capital As Lead Investor
On June 1st, BlockNews completed a $2 million financing round, which was led by Hong Kong-based Thoughtcast Capital. A portion of the new funds will be used for BlockNews' operations and technology deployment in Kuala Lumpur, aimed at improving the quality of business services such as project incubation, planning, packaging, going global and overseas legal compliance, as well as Dapp development. It is reported that BlockNews' Singapore office opened for business reception at the end of May 2023. Prior to this, they have undertaken offline conference work and achieved good results in cities such as Shenzhen, Hong Kong, Singapore, Thailand, and Vietnam.
Hong Kong to Allow Individual Investors to Buy and Sell Cryptocurrencies, Warns Against Unlicensed Exchanges
Hong Kong will allow individual investors to trade cryptocurrencies with high market caps, such as Bitcoin and Ether, through a new licensing system starting on June 1. The Hong Kong Securities and Futures Commission has warned unlicensed exchanges not to market to Hong Kong investors. Only two exchanges have been licensed so far, but others, including Huobi and OKX, plan to apply. This shift in Hong Kong's stance on digital currencies follows similar moves by governments in Dubai and Singapore and could have a significant impact, particularly as China may embrace crypto as the US becomes more hostile towards the sector. Coinbase, the largest US-based exchange, is suing the SEC after receiving a Wells Notice, and Hashnote is considering relocating its headquarters outside the US.
Hong Kong's Pro-Crypto Move to Benefit Ethereum and 11 Other Cryptocurrencies in June
Hong Kong's decision to allow retail investors to buy cryptocurrencies, including Ethereum, starting June 1st, is expected to benefit the crypto community.
Hong Kong Opens Up Virtual Asset Licensing Regime, Increasing Demand for AML Compliance Solutions
Hong Kong's virtual asset licensing regime officially opened on June 1, allowing platforms interested in virtual asset business to apply for a license from the Securities and Futures Commission and be regulated by it.
Hong Kong's Crypto Ambitions Receive Guarded Reception from Digital Asset Companies
Hong Kong's ambition to become a crypto hub has received a guarded reception from digital asset companies, who remain cautious about the city's regulatory framework for the industry.
BitMart Hong Kong Trading Platform Is Officially Launched, Providing Virtual Currency Trading Services for Hong Kong Users
BitMart announced the official launch of its new trading platform in Hong Kong, continuing to serve institutional and retail investors in the region. BitMart Hong Kong currently supports spot trading of virtual assets such as Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC), and will provide more professional services in the future to enhance users' trading experience. The platform will operate in strict accordance with the regulations of the Hong Kong Securities and Futures Commission and has hired a professional consulting team composed of former SFC core members to provide compliance consulting services.
HKLVAA Established by Leading Virtual Asset Companies to Promote Hong Kong's Position in the Industry
Leading virtual asset companies from Hong Kong and around the world have established a non-profit association called the Hong Kong Licensed Virtual Asset Association (HKLVAA).
The Central Bank of the United Arab Emirates and the Hong Kong Monetary Authority Enhance Financial Cooperation
On May 30th, according to the website of the Hong Kong Monetary Authority, the Central Bank of the United Arab Emirates (UAE Central Bank) and the Hong Kong Monetary Authority held a bilateral meeting on May 29th (Abu Dhabi time) in Abu Dhabi to enhance cooperation in the financial services sector between the two regions. During the meeting, the UAE Central Bank and the Hong Kong Monetary Authority discussed several cooperation plans, and agreed to strengthen cooperation in the three major categories of financial infrastructure, mutual market access for the two regions' financial markets, and the regulation and development of virtual assets. In addition, the two sides facilitated discussions and knowledge sharing on cooperation plans for the development of financial technology innovation hubs in their respective regions.
Crypto Companies Race to Apply for License in Hong Kong
Several cryptocurrency companies are planning to apply for a license in Hong Kong starting from June 1, with CoinEx, Huobi, Gate. io, BitMEX, OKX, ZA Bank, and Greenland Holdings among them.
Asian Regulators Update Crypto Regulations
Regulators in Asia have made updates to cryptocurrency regulations. Japan will enforce stricter Anti-Money Laundering measures, including the “Travel Rule,” starting from June 1.
