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Cryptocurrencies From cats to crypto, hit record inreport. Cryptocurrencies Japan crypto exchanges hit exchange licensing ahead of retail. Opinion Hong Kong is serious about becoming a 'Web3' hub. PARAGRAPHThe exchanges widen curreny as Hong Kong's first virtual insurer.

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New crypto regulations take effect in Hong Kong
Under Hong Kong law, cryptocurrencies are not legal tender regulated by the HKMA and do not qualify as money. There is currently no digital asset that is backed. Exclusive | Binance is behind the Hong Kong crypto exchange HKVAEX, which is seeking a licence in the city, sources say. HKVAEX, founded last. Hong Kong is a significant hub in the global cryptocurrency landscape, home to numerous blockchain companies, crypto exchanges, and enthusiasts.

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calendar_month 02.08.2023

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calendar_month 03.08.2023

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You can learn more about the specifics of the transitional period here. The development is an important step in positioning the city as a crypto hub while other markets remain cautious after the collapse in November of FTX, a high-profile cryptocurrency exchange. Stablecoins are generally considered a subset of VAs and are also currently not legal tender in Hong Kong. The organization sets and enforces regulations on different industries, investigates suspicious cases, and provides licenses. To do so, the government has announced the creation of a special working group with focus on such illegal activities.