https://www-scmp-com.libproxy1.nus.edu.sg/rss/310482/feed Bitcoin, released to the world in 2009 by a person or people called Satoshi Nakamoto, is not backed by a central bank or a government and is seen as an alternative payment system. In February 2013, Bitcoin went into the mainstream as a monetary crisis threatened to bankrupt Cyprus, seen as a safer bet. Early adopters of Bitcoin have been richly rewarded as the price has soared – in one case, a young Norwegian bought a house from an $850,000 windfall on a US$22 investment. en https://assets-v2.i-scmp.com/production/static/img/icons/scmp-meta-1200x630.png https://www-scmp-com.libproxy1.nus.edu.sg Jess Ma Jess Ma A cryptocurrency trading platform on Hong Kong and Canadian regulators’ alert lists has opened an office in the city, prompting experts to urge closer scrutiny of how such firms promote themselves without undermining an open business environment. Experts told the South China Morning Post that inclusion on a regulator’s alert list did not necessarily mean a company had broken the law. But they urged authorities to step up oversight of how such firms marketed regulated financial products. Polar... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3371978/crypto-platform-alert-lists-opens-hong-kong-office-prompting-calls-scrutiny https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3371978/crypto-platform-alert-lists-opens-hong-kong-office-prompting-calls-scrutiny Sat, 24 Oct 2026 04:00:16 +0000 Xinmei Shen Xinmei Shen Bitcoin may extend its rebound but is unlikely to break above US$100,000 before the end of the year, as rising interest rates and the Iran conflict continue to weigh on crypto assets, according to analysts. The crypto asset class is likely to end the year higher than it is today, but below the peak reached last October, according to Alice Liu, head of research at crypto data platform CoinMarketCap. “The worst of this year’s downturn is behind us, but the recovery will be uneven and led almost... https://www-scmp-com.libproxy1.nus.edu.sg/business/cryptocurrency/article/3371238/bitcoin-making-comeback-risk-more-sharp-pullbacks-real https://www-scmp-com.libproxy1.nus.edu.sg/business/cryptocurrency/article/3371238/bitcoin-making-comeback-risk-more-sharp-pullbacks-real Sun, 18 Oct 2026 23:00:14 +0000 Teresa Elena Frontado Teresa Elena Frontado Bank of America, the second-largest US bank, failed to promptly report hundreds of millions of dollars in suspicious transactions bearing signs of Chinese money-laundering networks, US regulators said on Tuesday, announcing more than US$1.21 billion in penalties for broader anti-money-laundering and sanctions failures. The Financial Crimes Enforcement Network, or FinCEN, said the activity included large wire transfers to counterparties in China, repeated credit-card purchases at major retailers... https://www-scmp-com.libproxy1.nus.edu.sg/news/china/diplomacy/article/3370920/bank-america-fined-us121-billion-us-flags-suspected-chinese-money-laundering https://www-scmp-com.libproxy1.nus.edu.sg/news/china/diplomacy/article/3370920/bank-america-fined-us121-billion-us-flags-suspected-chinese-money-laundering Wed, 14 Oct 2026 17:47:33 +0000 Tan Poh Hwee Tan Poh Hwee Cryptocurrency’s promise of financial freedom carries a cost the industry must confront: growing wealth can make its owners more attractive targets for violent criminals. Protecting digital assets while treating the physical safety of their holders as a personal matter is an inadequate approach to financial security. The industry must take responsibility for designing products and services which account for the reality that people can be threatened into surrendering their assets. The rise in... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/world-opinion/article/3370088/better-protection-needed-violent-cryptocurrency-robberies-surge https://www-scmp-com.libproxy1.nus.edu.sg/opinion/world-opinion/article/3370088/better-protection-needed-violent-cryptocurrency-robberies-surge Sat, 10 Oct 2026 08:30:05 +0000 Xinmei Shen Xinmei Shen China’s top intelligence and security agency on Monday issued a stark new warning on the risks of cryptocurrencies, highlighting their role in crime and stressing that transactions are not anonymous. Here are three things to know about the fresh warning from the Ministry of State Security (MSS) and China’s latest stance on virtual assets. What did the ministry say about cryptocurrencies? Virtual currencies facilitated money laundering activities and cyberattacks, and served as “accomplices” in... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3369048/accomplices-espionage-beijings-stance-cryptocurrencies-hardens https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3369048/accomplices-espionage-beijings-stance-cryptocurrencies-hardens Mon, 28 Sep 2026 09:00:18 +0000 Xinmei Shen Xinmei Shen The US Senate’s rejection of the Clarity Act – a landmark bill meant to regulate cryptocurrency market structure – has opened a window for Hong Kong to accelerate its digital asset ambitions, industry insiders say, even as the sector remains mired in a slump after a brief rally last month. Beijing’s ban on crypto remains in force in mainland China, but Hong Kong has received approval to develop itself as a digital asset hub, with the stalled push in Washington presenting the city with what... https://www-scmp-com.libproxy1.nus.edu.sg/business/cryptocurrency/article/3367694/us-crypto-bill-stumble-sparks-call-hong-kong-seize-critical-strategic-window https://www-scmp-com.libproxy1.nus.edu.sg/business/cryptocurrency/article/3367694/us-crypto-bill-stumble-sparks-call-hong-kong-seize-critical-strategic-window Wed, 16 Sep 2026 08:00:36 +0000 Associated Press Associated Press A 22-year-old man pleaded guilty on Tuesday to teaming up with friends to steal nearly a quarter-billion dollars in bitcoin from a Washington resident – one of the largest cryptocurrency thefts in US history – and then embarking on a wild spending spree with the laundered proceeds. Malone Lam, an eighth-grade dropout who came to the US from Singapore, faces a maximum prison sentence of 20 years after pleading guilty to a federal racketeering conspiracy charge. US District Judge Colleen... https://www-scmp-com.libproxy1.nus.edu.sg/news/asia/southeast-asia/article/3366830/singapore-man-malone-lam-pleads-guilty-after-massive-us-bitcoin-heist-and-spending-spree https://www-scmp-com.libproxy1.nus.edu.sg/news/asia/southeast-asia/article/3366830/singapore-man-malone-lam-pleads-guilty-after-massive-us-bitcoin-heist-and-spending-spree Tue, 08 Sep 2026 18:31:00 +0000 Xinmei Shen Xinmei Shen Anxiety over the booming AI trade and bitcoin’s uncertain future is overshadowing this year’s Bitcoin Asia conference in Hong Kong, as a lingering crypto slump dampens enthusiasm despite a star appearance by Binance founder Zhao Changpeng. Zhao, known in the industry as “CZ”, struck a bullish tone during his highly anticipated appearance on Thursday. Speaking to a large crowd, the 48-year-old billionaire entrepreneur drew applause and cheers by declaring that bitcoin “will for sure become more... https://www-scmp-com.libproxy1.nus.edu.sg/tech/tech-trends/article/3365484/crypto-slump-ai-boom-overshadow-czs-bullish-pitch-hong-kongs-bitcoin-asia https://www-scmp-com.libproxy1.nus.edu.sg/tech/tech-trends/article/3365484/crypto-slump-ai-boom-overshadow-czs-bullish-pitch-hong-kongs-bitcoin-asia Thu, 27 Aug 2026 12:30:11 +0000 Xinmei Shen Xinmei Shen Bitcoin has broken above US$80,000 for the first time in three months, riding a broader rally in alternative assets triggered by Washington’s efforts to tame US bond yields. The world’s largest cryptocurrency traded above US$80,900 on Tuesday, jumping roughly 25 per cent over the past week and signalling an early recovery from a prolonged market slump. While bitcoin remains nearly 36 per cent below its record high of US$126,000 set in October, the sharp rebound has prompted observers to predict... https://www-scmp-com.libproxy1.nus.edu.sg/tech/blockchain/article/3365147/bitcoin-tops-us80000-first-time-may-us-moves-boost-crypto https://www-scmp-com.libproxy1.nus.edu.sg/tech/blockchain/article/3365147/bitcoin-tops-us80000-first-time-may-us-moves-boost-crypto Tue, 25 Aug 2026 04:46:28 +0000 Reuters Reuters US President Donald Trump reported more than US$1.4 billion in income from his ⁠family’s crypto ventures last year, showing how he now derives most of his income from digital assets that have benefited from his policies, according to a review of his latest financial disclosures on Tuesday. The filings, his annual disclosure for 2025 with the US Office of Government Ethics, disclosed that his companies received almost US$800 million from World Liberty Financial, a crypto venture he and his sons... https://www-scmp-com.libproxy1.nus.edu.sg/news/world/united-states-canada/article/3358960/trump-reports-more-us14-billion-income-crypto-ventures https://www-scmp-com.libproxy1.nus.edu.sg/news/world/united-states-canada/article/3358960/trump-reports-more-us14-billion-income-crypto-ventures Tue, 30 Jun 2026 23:05:20 +0000 Peggy Ye Peggy Ye Hong Kong’s de facto central bank has formed a group of industry experts to help remove legal and regulatory hurdles to tokenized bonds, as authorities seek to move beyond pilot projects and encourage wider adoption from private issuers. The Hong Kong Monetary Authority (HKMA) said on Friday it had established a Tokenised Bond Expert Group comprising 21 institutions spanning banks, law firms, market infrastructure providers and digital asset companies to support the development of the city’s... https://www-scmp-com.libproxy1.nus.edu.sg/business/cryptocurrency/article/3356125/hong-kong-taps-banks-lawyers-and-crypto-firms-help-rewrite-rules-tokenised-bonds https://www-scmp-com.libproxy1.nus.edu.sg/business/cryptocurrency/article/3356125/hong-kong-taps-banks-lawyers-and-crypto-firms-help-rewrite-rules-tokenised-bonds Fri, 05 Jun 2026 10:45:05 +0000 Ben Young Ben Young Over the past few years, digital art has become a more integral part of the contemporary art scene. At this year’s Art Basel Hong Kong, this evolution was exemplified by Zero 10, the fair’s new curated space for digital practices that was a huge hit in Miami. Yet non-fungible tokens (NFTs), which became synonymous with digital art during a hype-driven, celebrity-endorsed asset bubble in 2021, have seen massive drop-offs in terms of both market cap and cultural relevance. This is due to multiple... https://www-scmp-com.libproxy1.nus.edu.sg/special-reports/article/3352492/nft-hype-dead-its-tech-remains-useful-art-experts-say https://www-scmp-com.libproxy1.nus.edu.sg/special-reports/article/3352492/nft-hype-dead-its-tech-remains-useful-art-experts-say Tue, 05 May 2026 22:00:12 +0000 Xinmei Shen Xinmei Shen Chinese economist Fu Peng, whose candid remarks about the country’s economic ills went viral, has joined a Hong Kong cryptocurrency firm as chief scientist, hailing the “historical” leap of digital assets into mainstream finance despite their current slump. “[Digital assets] have become mature enough to be added to investment portfolios,” Fu said in Hong Kong on Thursday, addressing audience members at an event organised by his new employer Bitfire Group, a Hong Kong-listed crypto asset... https://www-scmp-com.libproxy1.nus.edu.sg/tech/article/3351160/chinese-economist-fu-peng-joins-hong-kong-listed-bitfire-hails-cryptos-historic-rise https://www-scmp-com.libproxy1.nus.edu.sg/tech/article/3351160/chinese-economist-fu-peng-joins-hong-kong-listed-bitfire-hails-cryptos-historic-rise Thu, 23 Apr 2026 11:00:09 +0000 The Korea Times The Korea Times Buying illegal drugs has become as easy as ordering a pizza in South Korea – especially for teens and young adults who have grown up in the digital age – as drug trafficking has increasingly moved online. On platforms like Telegram and the dark web, users familiar with drug-related slang can easily locate dealers. Consumers simply place an order, pay with bitcoin, and, once the transaction is complete, receive a message with instructions on where to collect their purchase. Pickup locations are... https://www-scmp-com.libproxy1.nus.edu.sg/news/asia/east-asia/article/3349615/south-korean-youth-hooked-easy-access-drugs-online https://www-scmp-com.libproxy1.nus.edu.sg/news/asia/east-asia/article/3349615/south-korean-youth-hooked-easy-access-drugs-online Fri, 10 Apr 2026 05:17:22 +0000 Laura Zhou Laura Zhou The compound is modern with air conditioning in every room. Inside are a medical clinic, massage parlour, and Vietnamese barbecue, Chinese hotpot and halal eateries – a full range of conveniences. Yet the residents are gone – and they appear to have fled in haste. Clothes still hang out to dry, while the stench of rotting food lingers. Located in a secluded area in Kampot province near Cambodia’s border with Vietnam, the site is believed to be a telecoms scam centre. Cambodian authorities said... https://www-scmp-com.libproxy1.nus.edu.sg/news/china/diplomacy/article/3348930/game-whack-mole-how-could-scam-industry-bring-china-and-us-together https://www-scmp-com.libproxy1.nus.edu.sg/news/china/diplomacy/article/3348930/game-whack-mole-how-could-scam-industry-bring-china-and-us-together Fri, 03 Apr 2026 22:00:10 +0000 Kandy Wong Kandy Wong Welcome to Open Dialogue, a series from the South China Morning Post where we bring together leading voices to discuss the stories and subjects occupying international headlines. In this edition, we invited a prominent industry player and economist to reflect on the role of stablecoins, cryptocurrencies pegged to fiat currencies or other assets. They discuss the differing approaches of China and the United States, as well as Hong Kong’s role in China’s strategy, as the city is expected to issue... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3347710/gary-liu-and-liu-xiaochun-what-role-stablecoins-could-play-china-and-us https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3347710/gary-liu-and-liu-xiaochun-what-role-stablecoins-could-play-china-and-us Tue, 24 Mar 2026 22:00:28 +0000 Eunice Xu Eunice Xu In late 2022, Syed Musheer Ahmed packed his bags and departed Hong Kong. The founder of fintech advisory firm FinStep Asia headed for Dubai, where he joined the founding team of the Gulf city’s new digital-asset regulator, Virtual Assets Regulatory Authority (VARA). Like many in Hong Kong’s crypto scene at the time, Ahmed was drawn by the Middle East’s regulatory clarity – a stark contrast to the uncertainty and Covid-19 restrictions still lingering in his adopted home. “Dubai came up as a good... https://www-scmp-com.libproxy1.nus.edu.sg/tech/blockchain/article/3347286/will-hong-kongs-regulatory-clarity-crypto-forge-path-global-hub-status https://www-scmp-com.libproxy1.nus.edu.sg/tech/blockchain/article/3347286/will-hong-kongs-regulatory-clarity-crypto-forge-path-global-hub-status Sat, 21 Mar 2026 04:00:08 +0000 Bloomberg Bloomberg Bitcoin extended a four-week slide as investors returned to a more cautious macro backdrop. The token dropped as much as 3.2 per cent to US$66,604 on Tuesday, before paring the decline. Bitcoin, which has traded like a high-beta tech proxy in recent months, mirrored an earlier move lower in US equities, but failed to keep pace when stocks edged higher. “Sentiment is clearly bleak in crypto markets,” said Noelle Acheson, author of the Crypto is Macro Now newsletter. “There is strong progress in... https://www-scmp-com.libproxy1.nus.edu.sg/tech/blockchain/article/3343879/sentiment-bleak-bitcoin-declines-geopolitical-tensions-add-risk-mood https://www-scmp-com.libproxy1.nus.edu.sg/tech/blockchain/article/3343879/sentiment-bleak-bitcoin-declines-geopolitical-tensions-add-risk-mood Wed, 18 Feb 2026 06:06:08 +0000 Agence France-Presse Agence France-Presse As a first-year computer science student in Hanoi, Hoang Le started trading cryptocurrency from his university dorm room, egged on by his gamer friends who were making a killing. At one point his digital holdings jumped to US$200,000 – around 50 times the average annual income in Vietnam. But they crashed to zero when the bottom fell out of bitcoin and other cryptocurrencies in recent months. Getting wiped out “hurt a lot”, he said, but he also learned a valuable lesson: he has come to think of... https://www-scmp-com.libproxy1.nus.edu.sg/news/asia/southeast-asia/article/3343615/how-things-went-downhill-vietnams-once-booming-cryptocurrency-traders https://www-scmp-com.libproxy1.nus.edu.sg/news/asia/southeast-asia/article/3343615/how-things-went-downhill-vietnams-once-booming-cryptocurrency-traders Sun, 15 Feb 2026 06:26:23 +0000 Iris Deng Iris Deng As the cryptocurrency market faces mounting pressure, Standard Chartered on Thursday cut its forecast for bitcoin, flagging a further drop to US$50,000 before the world’s largest cryptocurrency stabilises. The digital currency was trading at around US$66,300 at 1pm Hong Kong time on Friday, a decline of nearly 50 per cent from a historical high of US$126,000 in October. Ether slid slightly to US$1,940 at 1pm on Friday. The world’s second-largest digital token has lost 60 per cent of its value... https://www-scmp-com.libproxy1.nus.edu.sg/tech/article/3343504/standard-chartered-expects-bitcoin-slump-us50000-mounting-comeback https://www-scmp-com.libproxy1.nus.edu.sg/tech/article/3343504/standard-chartered-expects-bitcoin-slump-us50000-mounting-comeback Fri, 13 Feb 2026 10:27:45 +0000 Eunice Xu Eunice Xu In a makeshift boxing ring, two humanoids square off; one in blue headgear and gloves, the other in matching red. The spectacle might be run-of-the-mill for a robotics conference, but this was Consensus Hong Kong 2026, one of the largest events for the digital assets industry. Behind the human-controlled fighting humanoids was BitRobot, an embodied AI research network built on the Solana blockchain. Despite the bitcoin drawdown of recent weeks, the mood was upbeat. Consensus this year... https://www-scmp-com.libproxy1.nus.edu.sg/tech/tech-trends/article/3343349/policy-products-web3-innovation-takes-centre-stage-consensus-hong-kong https://www-scmp-com.libproxy1.nus.edu.sg/tech/tech-trends/article/3343349/policy-products-web3-innovation-takes-centre-stage-consensus-hong-kong Thu, 12 Feb 2026 13:00:14 +0000 Yeon Woo Lee Yeon Woo Lee Hong Kong’s securities regulator unveiled several new initiatives on Wednesday aimed at further developing the city’s virtual asset sector while strengthening investor safeguards. The announcements by the Securities and Futures Commission (SFC) coincided with Consensus 2026, a major cryptocurrency conference running this week at the Hong Kong Convention and Exhibition Centre, attended by industry figures such as Binance CEO Richard Teng and Solana Foundation president Lily Liu. “[At Consensus... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3343189/hong-kong-bridges-traditional-and-digital-finance-worlds-new-virtual-asset-initiatives https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3343189/hong-kong-bridges-traditional-and-digital-finance-worlds-new-virtual-asset-initiatives Wed, 11 Feb 2026 09:30:20 +0000 Eunice Xu Eunice Xu As Consensus 2026 officially kicks off in Hong Kong this week, digital asset firms are rolling out product updates to coincide with one of the industry’s most significant events. Digital asset custodian Hex Trust launched Aura on Wednesday, a wealth management platform for private investors that integrates trading, investment and estate planning. “Aura marks a new evolution for Hex Trust,” said the firm’s CEO and co-founder Alessio Quaglini in a press release. He noted that while Hex Trust had... https://www-scmp-com.libproxy1.nus.edu.sg/tech/tech-trends/article/3343075/stablecoins-wealth-platforms-launched-consensus-2026-amid-tighter-beijing-oversight https://www-scmp-com.libproxy1.nus.edu.sg/tech/tech-trends/article/3343075/stablecoins-wealth-platforms-launched-consensus-2026-amid-tighter-beijing-oversight Wed, 11 Feb 2026 01:00:14 +0000 Reuters Reuters South Korean cryptocurrency exchange Bithumb said on Saturday it had accidentally given away more than US$40 billion worth of bitcoin to customers as promotional rewards, triggering a sharp sell-off on the exchange. Bithumb apologised for the mistake, which took place on Friday, and said it had recovered 99.7 per cent of the 620,000 bitcoin, worth about US$44 billion at current prices. It had restricted trading and withdrawals for the 695 affected customers within 35 minutes of the erroneous... https://www-scmp-com.libproxy1.nus.edu.sg/news/asia/east-asia/article/3342749/south-koreas-bithumb-gives-away-over-us40-billion-bit-blunder https://www-scmp-com.libproxy1.nus.edu.sg/news/asia/east-asia/article/3342749/south-koreas-bithumb-gives-away-over-us40-billion-bit-blunder Sat, 07 Feb 2026 05:03:06 +0000 Leopold Chen Leopold Chen Bitcoin’s collapse has prompted some retail investors in Hong Kong to snap up the world’s largest cryptocurrency after its value fell by more than half from its peak. According to crypto asset data tracker CoinGecko, the price of bitcoin slumped to almost US$60,000 on Friday morning, Hong Kong time, less than half its historical high of US$124,000 in October 2025. The slump also erased US$2 trillion from the overall digital asset market over the period. On Friday afternoon, dozens of residents... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3342689/bargain-hunting-hong-kong-retail-investors-snap-bitcoin-amid-crypto-crash https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3342689/bargain-hunting-hong-kong-retail-investors-snap-bitcoin-amid-crypto-crash Fri, 06 Feb 2026 11:09:45 +0000 Xinmei Shen Xinmei Shen US Treasury Secretary Scott Bessent said he “would not be surprised” if China is already looking into ways to challenge the US’ pre-eminence in digital assets, given Hong Kong's efforts to develop the industry. When testifying before the Senate Banking Committee on Thursday, Bessent said that there are “lots of rumours of Chinese digital assets” possibly being backed by something other than its currency yuan, such as gold, but that the US could not confirm such claims. “We don’t know that for... https://www-scmp-com.libproxy1.nus.edu.sg/news/us/article/3342569/us-treasury-chief-warns-china-could-challenge-us-digital-asset-lead-hong-kong https://www-scmp-com.libproxy1.nus.edu.sg/news/us/article/3342569/us-treasury-chief-warns-china-could-challenge-us-digital-asset-lead-hong-kong Thu, 05 Feb 2026 20:12:01 +0000 Reuters Reuters Bitcoin plunged on Thursday, its decline accelerating amid weakening risk sentiment driven in part by volatility in precious ‍metals and a broad sell-off in tech shares. The world’s largest cryptocurrency fell to a low of US$66,675.12, its weakest since October 2024, a month before Republican Donald Trump won the US presidential election, having signalled his intention to support cryptocurrency on the campaign trail. It was last down 6.5 per cent at US$67,817. In total, the global digital market... https://www-scmp-com.libproxy1.nus.edu.sg/news/world/united-states-canada/article/3342555/bitcoin-dips-below-us70000-wiping-out-gains-trump-election-win-amid-warsh-fed-fears https://www-scmp-com.libproxy1.nus.edu.sg/news/world/united-states-canada/article/3342555/bitcoin-dips-below-us70000-wiping-out-gains-trump-election-win-amid-warsh-fed-fears Thu, 05 Feb 2026 13:32:17 +0000 Eunice Xu Eunice Xu Hong Kong’s cryptocurrency investors remain cautiously optimistic despite a sharp market sell-off over the weekend that pushed major digital assets to months-long lows. Bitcoin slid to US$74,541 on Monday morning, its lowest level in 10 months, extending a decline of about 40 per cent from its record high above US$126,000. That peak had been fuelled in part by expectations of a more crypto-friendly stance from the Trump administration. Other major tokens also weakened, with Ethereum down more... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3342126/hong-kong-crypto-investors-stay-cautious-upbeat-bitcoin-sell-deepens https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3342126/hong-kong-crypto-investors-stay-cautious-upbeat-bitcoin-sell-deepens Mon, 02 Feb 2026 13:30:17 +0000 Phoebe Zhang,Sylvie Zhuang Phoebe Zhang,Sylvie Zhuang When a film about an investigation into a phone scam in Cambodia debuted at the Busan International Film Festival in 2018, it was not the cast or the plot that drew attention in China. Instead, the focus was on the film’s executive producer, Chen Zhi – a billionaire Chinese businessman who has himself been accused of running a sprawling online scam network in Cambodia. In The Prey – touted as Cambodia’s “first million-dollar action movie” – an undercover Interpol operative ends up in jail. But... https://www-scmp-com.libproxy1.nus.edu.sg/news/china/politics/article/3341096/why-china-was-so-keen-get-alleged-cybercrime-boss-chen-zhi-first https://www-scmp-com.libproxy1.nus.edu.sg/news/china/politics/article/3341096/why-china-was-so-keen-get-alleged-cybercrime-boss-chen-zhi-first Sat, 24 Jan 2026 22:00:09 +0000 Kandy Wong Kandy Wong The seizure of enormous cryptocurrency caches in two high-profile criminal cases in China – a former head of the central bank’s digital currency research institute accused of corruption, and an alleged scam centre kingpin linked to about US$15 billion in bitcoin – have sparked questions in the country about the safety and future of virtual money. But analysts said the long-term trend for the assets, especially bitcoin, depended on institutional capital, interest rate expectations and the... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3340176/scam-and-corruption-cases-spark-debate-china-over-cryptocurrencies-future https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3340176/scam-and-corruption-cases-spark-debate-china-over-cryptocurrencies-future Sat, 17 Jan 2026 07:00:09 +0000 Jean Tirole Jean Tirole The fascination with cryptocurrencies shows no sign of fading. With the passage of the Guiding and Establishing National Innovation for US Stablecoins (Genius) Act in July, US lawmakers added to the sense that crypto is here to stay. But an uncomfortable issue remains unresolved: are cryptocurrencies a genuine innovation capable of serving the common good, or a speculative threat to financial and social stability? Not all cryptocurrencies are alike. Unbacked ones, such as bitcoin or Ethereum,... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/world-opinion/article/3337375/harness-crypto-ingenuity-financial-threat-must-first-be-neutralised https://www-scmp-com.libproxy1.nus.edu.sg/opinion/world-opinion/article/3337375/harness-crypto-ingenuity-financial-threat-must-first-be-neutralised Fri, 26 Dec 2025 12:30:08 +0000 Reuters Reuters Cryptocurrencies tumbled on Thursday and bitcoin fell back below the US$90,000 threshold in a renewed signal of market jitters, as fresh concerns about artificial intelligence profits weighed on technology stocks. Risk sentiment turned sour after US cloud firm Oracle’s profit and revenue outlook missed forecasts and executives flagged higher spending – a sign that AI infrastructure outlays are not turning profits as quickly as investors had hoped. Bitcoin was last down 2.5 per cent at... https://www-scmp-com.libproxy1.nus.edu.sg/tech/blockchain/article/3336042/bitcoin-drops-below-us90000-ai-worries-sour-risk-appetite https://www-scmp-com.libproxy1.nus.edu.sg/tech/blockchain/article/3336042/bitcoin-drops-below-us90000-ai-worries-sour-risk-appetite Thu, 11 Dec 2025 08:03:27 +0000 Aileen Chuang Aileen Chuang Crypto exchange operator HashKey Holdings has cleared its Hong Kong listing hearing after an earlier confidential filing, paving the way for a deal that will test investor confidence in the digital asset sector amid evolving regulation. The operator of Hong Kong’s biggest licensed crypto exchange could raise up to US$300 million, a reduction from a previous target of around US$500 million, in a listing this month, according to a source familiar with the matter. HashKey did not disclose the size... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3334718/hong-kongs-biggest-crypto-exchange-hashkey-wins-listing-nod-test-investor-appetite https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3334718/hong-kongs-biggest-crypto-exchange-hashkey-wins-listing-nod-test-investor-appetite Mon, 01 Dec 2025 04:39:42 +0000 Xinmei Shen Xinmei Shen A mild uptick in bitcoin mining in China has prompted calls for Beijing to loosen its restrictions and let the power-hungry industry tap into the country’s oversupply of energy, but experts said the likelihood of China ending its mining ban was low. China’s bitcoin mining market share by hash rate rose from 13.75 per cent in the first quarter of 2025 to 14.06 per cent in the current quarter, making it the third largest bitcoin mining country behind the US and Russia, according to Hashrate Index,... https://www-scmp-com.libproxy1.nus.edu.sg/tech/tech-trends/article/3334615/experts-doubt-china-will-lift-bitcoin-mining-ban-despite-uptick-and-excess-energy-supply https://www-scmp-com.libproxy1.nus.edu.sg/tech/tech-trends/article/3334615/experts-doubt-china-will-lift-bitcoin-mining-ban-despite-uptick-and-excess-energy-supply Sun, 30 Nov 2025 02:00:11 +0000 Anthony Rowley Anthony Rowley In May 2023, Australian economist Paul Sheard published a book, The Power of Money, explaining how governments and banks create money. Things have moved on since then in the world of cryptocurrency, and it is the little understood international politics of money that need clearing up now. Public interest continues to centre upon instruments such as bitcoin and its cryptocurrency imitators, whose huge price swings attract headlines. These are not currencies, however, but “risk assets” as Sheard... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/world-opinion/article/3334380/global-stablecoin-surge-highlights-overlooked-risks-crypto-finance https://www-scmp-com.libproxy1.nus.edu.sg/opinion/world-opinion/article/3334380/global-stablecoin-surge-highlights-overlooked-risks-crypto-finance Sat, 29 Nov 2025 08:30:08 +0000 Nicholas Spiro Nicholas Spiro This has been a brutal month for bitcoin enthusiasts. Since hitting an all-time high of US$124,752 on October 7, the original cryptocurrency has plunged 28 per cent and is on track for its worst month since June 2022, when a string of corporate collapses rocked the cryptocurrency industry. The dramatic sell-off has helped wipe almost US$1.2 trillion off the market capitalisation of the cryptocurrency market, of which bitcoin accounts for 58 per cent. The speed and scale of the decline are... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/world-opinion/article/3334308/bitcoins-bruising-month-shows-perils-going-mainstream https://www-scmp-com.libproxy1.nus.edu.sg/opinion/world-opinion/article/3334308/bitcoins-bruising-month-shows-perils-going-mainstream Thu, 27 Nov 2025 08:30:10 +0000 Reuters Reuters Bitcoin mining is quietly staging a comeback in China despite being banned four years ago, as individual and corporate miners exploit cheap electricity and a data-centre boom in some energy-rich provinces, according to miners and industry data. China had been the world’s biggest crypto mining country until Beijing banned all cryptocurrency trading and mining in 2021, citing threats to the country’s financial stability and energy conservation. After its global bitcoin mining market share slumped... https://www-scmp-com.libproxy1.nus.edu.sg/tech/tech-trends/article/3334015/bitcoin-mining-china-rebounds-defying-2021-ban https://www-scmp-com.libproxy1.nus.edu.sg/tech/tech-trends/article/3334015/bitcoin-mining-china-rebounds-defying-2021-ban Tue, 25 Nov 2025 01:55:59 +0000 Bloomberg Bloomberg The cryptocurrency market extended a more than month-long retreat during Asia trading on Friday. Market bellwether bitcoin dropped as much as 2.1 per cent to reach below US$86,000 for the first time since April, as the market struggled to find new buyers and the momentum that had supported prices earlier this year evaporated. The pullback comes after weeks of unwinding among fast-moving traders and lingering positioning from October’s record run-up, which has left the market more vulnerable to... https://www-scmp-com.libproxy1.nus.edu.sg/tech/blockchain/article/3333668/cryptocurrency-market-extends-slide-bitcoin-falls-below-us86000 https://www-scmp-com.libproxy1.nus.edu.sg/tech/blockchain/article/3333668/cryptocurrency-market-extends-slide-bitcoin-falls-below-us86000 Fri, 21 Nov 2025 07:29:34 +0000 Derek Chan Derek Chan In Hong Kong and elsewhere, digital currencies, cryptocurrencies (including stablecoins) and virtual assets are gaining in popularity and are rapidly becoming a mainstream asset class, with retail investors increasingly buying into them. Here in the city, new and groundbreaking legislation has been introduced to implement a regulatory framework which specifically addresses virtual assets, cementing Hong Kong’s status as an innovative global financial hub. The incursion of cryptocurrencies and... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/law-and-crime/article/3333455/how-hong-kongs-law-protects-those-drawn-crypto-and-virtual-asset-investments https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/law-and-crime/article/3333455/how-hong-kongs-law-protects-those-drawn-crypto-and-virtual-asset-investments Thu, 20 Nov 2025 01:30:26 +0000 Xinmei Shen Xinmei Shen Some of China’s cryptocurrency heavyweights have called off a US$500 million ether digital asset treasury (DAT) project, as the broader crypto market remains in a slump, according to people familiar with the matter. The project was initiated earlier this year by Huobi founder Leon Li Lin, HashKey Group chairman and CEO Xiao Feng, Meitu co-founder Mike Cai Wensheng and Fenbushi Capital founder Bo Shen, who aimed to raise US$500 million to launch a DAT firm that would invest in the world’s... https://www-scmp-com.libproxy1.nus.edu.sg/tech/blockchain/article/3333429/chinese-crypto-founders-shelve-us500-million-ether-digital-asset-treasury-project https://www-scmp-com.libproxy1.nus.edu.sg/tech/blockchain/article/3333429/chinese-crypto-founders-shelve-us500-million-ether-digital-asset-treasury-project Wed, 19 Nov 2025 12:00:10 +0000 Biman Mukherji Biman Mukherji As governments worldwide debate the merits and dangers of digital currencies, India appears poised to launch its own state-backed stablecoin that uses government debt as collateral. Proponents argue that the Asset Reserve Certificate (ARC) could hasten the global drive towards de-dollarisation, lower India’s borrowing costs and create a “virtuous cycle” for public funding by diversifying the country’s investor base. By tying the token to sovereign debt, developers aim to create a transparent... https://www-scmp-com.libproxy1.nus.edu.sg/week-asia/economics/article/3333378/indias-debt-backed-stablecoin-challenge-us-dollar-dominance-explained https://www-scmp-com.libproxy1.nus.edu.sg/week-asia/economics/article/3333378/indias-debt-backed-stablecoin-challenge-us-dollar-dominance-explained Wed, 19 Nov 2025 07:08:33 +0000 Reuters Reuters Malaysia’s national utility firm Tenaga Nasional Bhd (TNB) has incurred losses of more than US$1 billion from illegal power usage by cryptocurrency miners between 2020 and August this year, the energy ministry said. TNB found that 13,827 premises had illegally used power to mine cryptocurrency over the period, the energy and water transformation ministry said in a written parliamentary reply dated Tuesday. The illegal use of electricity for cryptocurrency mining, particularly for bitcoin, has... https://www-scmp-com.libproxy1.nus.edu.sg/news/asia/southeast-asia/article/3333370/crypto-power-theft-malaysia-drains-us111-billion-utility-firm https://www-scmp-com.libproxy1.nus.edu.sg/news/asia/southeast-asia/article/3333370/crypto-power-theft-malaysia-drains-us111-billion-utility-firm Wed, 19 Nov 2025 06:31:03 +0000 Bloomberg Bloomberg Cloudflare has fully restored its services after an outage on Tuesday at the web-infrastructure company prevented thousands from accessing major internet platforms, including X and ChatGPT. The company said the outage that began around 6.30am was caused by an automatically generated configuration file, designed to manage potential security threats. The file grew too large and crashed the software system handling traffic for several Cloudflare services, the company, whose network handles around a... https://www-scmp-com.libproxy1.nus.edu.sg/news/world/united-states-canada/article/3333299/chatgpt-x-among-sites-disrupted-worldwide-cloudflare-outage https://www-scmp-com.libproxy1.nus.edu.sg/news/world/united-states-canada/article/3333299/chatgpt-x-among-sites-disrupted-worldwide-cloudflare-outage Tue, 18 Nov 2025 12:52:41 +0000 Xinmei Shen Xinmei Shen Bitcoin continues to plunge as a cryptocurrency sell-off deepens, shaving off gains in share prices that some Hong Kong-listed firms made this year after launching digital asset initiatives. Bitcoin at one point on Tuesday dropped below US$90,000, more than 4 per cent lower than at the start of 2025, after hitting multiple all-time highs this year. The world’s largest cryptocurrency had “underperformed both gold and the Nasdaq amid risk-off sentiment and tight liquidity, exacerbated by the... https://www-scmp-com.libproxy1.nus.edu.sg/tech/article/3333253/extreme-fear-bitcoin-plunge-hammers-hong-kong-listed-firms-tied-digital-assets https://www-scmp-com.libproxy1.nus.edu.sg/tech/article/3333253/extreme-fear-bitcoin-plunge-hammers-hong-kong-listed-firms-tied-digital-assets Tue, 18 Nov 2025 10:00:19 +0000 Bloomberg Bloomberg The bitcoin rally that welcomed a wave of new investors through easy-to-access exchange-traded funds (ETFs) has officially gone underwater. Investors in US ETFs that offer direct access to the cryptocurrency are now sitting on collective losses. The average cost basis across all ETF inflows sits at approximately US$89,600 – a level bitcoin breached on Tuesday, according to Sean Rose at market intelligence firm Glassnode. That figure reflects the flow-weighted average price of all ETF inflows... https://www-scmp-com.libproxy1.nus.edu.sg/tech/blockchain/article/3333243/faded-glory-bitcoin-etf-investors-red-after-cryptos-us89600-level-breaks https://www-scmp-com.libproxy1.nus.edu.sg/tech/blockchain/article/3333243/faded-glory-bitcoin-etf-investors-red-after-cryptos-us89600-level-breaks Tue, 18 Nov 2025 07:38:51 +0000 Bloomberg Bloomberg Just a little more than a month after reaching an all-time high, bitcoin has erased the more than 30 per cent gain registered since the start of the year as the exuberance over the pro-crypto stance of the Trump administration fades. The dominant cryptocurrency fell below US$93,714 on Sunday, pushing the price beneath the closing level reached at the end of last year, when financial markets were rallying following US President Donald Trump’s election victory. Bitcoin soared to a record... https://www-scmp-com.libproxy1.nus.edu.sg/tech/blockchain/article/3333026/bitcoin-erases-years-gain-crypto-bear-market-deepens https://www-scmp-com.libproxy1.nus.edu.sg/tech/blockchain/article/3333026/bitcoin-erases-years-gain-crypto-bear-market-deepens Mon, 17 Nov 2025 02:24:13 +0000 Xinmei Shen Xinmei Shen The US and China are ramping up crackdowns on cryptocurrency-related cross-border crimes with a flurry of actions against the suspected ringleaders of scam networks operating in Southeast Asia. In recent years, the border areas between Thailand, Myanmar, Laos and Cambodia have become hubs for online fraud operations, in which syndicates either trick or coerce their targeted victims to invest in bogus schemes and transfer money via bitcoin, ether or stablecoins before these are processed through... https://www-scmp-com.libproxy1.nus.edu.sg/tech/tech-trends/article/3332675/us-chinese-authorities-ramp-actions-against-transnational-syndicates-running-crypto-scams https://www-scmp-com.libproxy1.nus.edu.sg/tech/tech-trends/article/3332675/us-chinese-authorities-ramp-actions-against-transnational-syndicates-running-crypto-scams Thu, 13 Nov 2025 14:00:20 +0000 Bloomberg Bloomberg A Chinese woman described as a “super villain” who orchestrated a multibillion-dollar investment fraud to buy bitcoin was sentenced to 11 years and eight months in jail by a London judge. Qian Zhimin, who evaded arrest in China after fleeing on a moped to the Myanmar border, travelled through Southeast Asia and Europe using fake passports before settling in Britain under a fake name - Yadi Zhang. She was arrested as part of the largest bitcoin seizure ever by British police - now worth US$6.4... https://www-scmp-com.libproxy1.nus.edu.sg/news/world/europe/article/3332394/chinese-super-villain-qian-zhimin-jailed-11-years-us64-billion-bitcoin-fraud https://www-scmp-com.libproxy1.nus.edu.sg/news/world/europe/article/3332394/chinese-super-villain-qian-zhimin-jailed-11-years-us64-billion-bitcoin-fraud Tue, 11 Nov 2025 16:01:57 +0000 Xinmei Shen Xinmei Shen Chinese police are working with UK law enforcement authorities to track down fugitives and illicit funds involved in a massive cryptocurrency fraud and money laundering case, but experts see little likelihood for victims to recoup their losses. According to a statement, police in the northern city of Tianjin were “doing everything possible” to help more than 128,000 Chinese investors recoup funds caught in a web of fraudulent wealth schemes perpetrated between 2014 and 2017 by a syndicate, which... https://www-scmp-com.libproxy1.nus.edu.sg/tech/blockchain/article/3331111/china-uk-police-join-forces-recover-funds-massive-crypto-fraud https://www-scmp-com.libproxy1.nus.edu.sg/tech/blockchain/article/3331111/china-uk-police-join-forces-recover-funds-massive-crypto-fraud Fri, 31 Oct 2025 12:25:02 +0000 Iris Deng Iris Deng Chinese artificial intelligence models DeepSeek and Qwen have surged ahead of Western rivals, including GPT, with returns exceeding 100 per cent in just nine days during an ongoing real-market cryptocurrency trading competition. DeepSeek’s Chat V3.1 model grew its initial capital of US$10,000 to US$22,500 by 4pm on Monday – a 125 per cent gain since trading began on October 18 – according to the latest update from Alpha Arena, a crypto investment project launched by US research firm Nof1. Qwen 3... https://www-scmp-com.libproxy1.nus.edu.sg/tech/tech-trends/article/3330461/deepseek-and-qwen-ai-models-crush-western-rivals-cryptocurrency-trading-challenge https://www-scmp-com.libproxy1.nus.edu.sg/tech/tech-trends/article/3330461/deepseek-and-qwen-ai-models-crush-western-rivals-cryptocurrency-trading-challenge Mon, 27 Oct 2025 09:00:24 +0000