https://www-scmp-com.libproxy1.nus.edu.sg/rss/518224/feed News and analysis about non-fiat, decentralised assets used as digital currencies, including bitcoin, ether, altcoins and stablecoins. en https://assets-v2.i-scmp.com/production/static/img/icons/scmp-meta-1200x630.png https://www-scmp-com.libproxy1.nus.edu.sg 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?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/china/diplomacy/article/3370920/bank-america-fined-us121-billion-us-flags-suspected-chinese-money-laundering?utm_source=rss_feed 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?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/opinion/world-opinion/article/3370088/better-protection-needed-violent-cryptocurrency-robberies-surge?utm_source=rss_feed Sat, 10 Oct 2026 08:30:05 +0000 Danny Mok Danny Mok A 60-year-old Hong Kong woman has lost more than HK$21 million (US$2.7 million) in a cryptocurrency scam after a fraudster posing as an investment expert she met online duped her. The clerk reported the case to police on Saturday, saying she had befriended an individual claiming to be an investment specialist on “Baby Kingdom”, a popular online parenting forum and community website, on March 15 this year, a source said. The fraudster duped her into investing on a fake cryptocurrency platform... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/law-and-crime/article/3369712/hong-kong-woman-loses-hk215-million-cryptocurrency-scam?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/law-and-crime/article/3369712/hong-kong-woman-loses-hk215-million-cryptocurrency-scam?utm_source=rss_feed Sun, 04 Oct 2026 12:04:44 +0000 Enoch Yiu Enoch Yiu HSBC on Wednesday named its stablecoin offering HSBC RedCoin, paving the way for Hong Kong’s biggest lender to make the coin available to the more than 3.3 million users of its PayMe app for money transfers, shopping and dining. When launched before the end of the year, the stablecoin would be offered only through PayMe and HSBC’s Hong Kong mobile banking app, HSBC said. The bank said it was optimistic about retail usage of HSBC RedCoin, as 74 per cent of respondents to a survey of more than... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3369284/hsbc-unveils-redcoin-name-its-hong-kong-stablecoin-33-million-payme-users?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3369284/hsbc-unveils-redcoin-name-its-hong-kong-stablecoin-33-million-payme-users?utm_source=rss_feed Wed, 30 Sep 2026 04:18:24 +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?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3369048/accomplices-espionage-beijings-stance-cryptocurrencies-hardens?utm_source=rss_feed 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?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/cryptocurrency/article/3367694/us-crypto-bill-stumble-sparks-call-hong-kong-seize-critical-strategic-window?utm_source=rss_feed 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?utm_source=rss_feed 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?utm_source=rss_feed Tue, 08 Sep 2026 18:31:00 +0000 Simpson Cheung Simpson Cheung English Premier League football club Chelsea’s lucrative new front-of-shirt sponsorship deal with a stablecoin issuer has left Hong Kong fans and retailers concerned about whether wearing or selling the top counts as illegal promotion under digital currency laws. Chelsea signed the deal with Circle to feature its USDC stablecoin brand on player jerseys for the 2026-27 season in late August, just three months after the UK’s Financial Conduct Authority (FCA) warned Premier League clubs about... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/law-and-crime/article/3366500/why-chelsea-football-shirts-are-making-hong-kong-fans-nervous-about-crypto-laws?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/law-and-crime/article/3366500/why-chelsea-football-shirts-are-making-hong-kong-fans-nervous-about-crypto-laws?utm_source=rss_feed Sun, 06 Sep 2026 01:00:13 +0000 Christina Zhao Christina Zhao Not so long ago, Pokemon cards were little more than schoolyard treasures in Hong Kong. But the trading cards are now evolving into a sophisticated new asset class, driven by millennial nostalgia and the forces of global capital. In today’s red-hot market – where rare Pikachus sell for vast sums and crime is a real problem – a complex trading ecosystem is emerging, complete with professional grading, tokenised funds and institutional-grade storage facilities. Pokemon card valuations have... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3366398/inside-hong-kongs-red-hot-pokemon-card-market-where-pikachus-sell-stocks?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3366398/inside-hong-kongs-red-hot-pokemon-card-market-where-pikachus-sell-stocks?utm_source=rss_feed Sat, 05 Sep 2026 02:00:06 +0000 Eric Jiang Eric Jiang Inside a tiny self-service laundromat in Quarry Bay in the east of Hong Kong Island, next to a wall of washing machines, stands a waist-high cryptocurrency terminal with signs reading “Elon Musk recommends Dogecoin” and “Buy bitcoin in one minute”. In order to obtain Dogecoin through the ATM, customers feed Hong Kong dollar notes into a slot and scan a QR code. The equivalent amount in cryptocurrency is then credited into their digital wallet. Such machines have proliferated across the city in... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3366434/how-some-grey-market-crypto-atms-hong-kong-can-turn-users-fraud-victims?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3366434/how-some-grey-market-crypto-atms-hong-kong-can-turn-users-fraud-victims?utm_source=rss_feed Sat, 05 Sep 2026 01:00:07 +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?utm_source=rss_feed 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?utm_source=rss_feed 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?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/tech/blockchain/article/3365147/bitcoin-tops-us80000-first-time-may-us-moves-boost-crypto?utm_source=rss_feed Tue, 25 Aug 2026 04:46:28 +0000 Sylvia Ma Sylvia Ma Barry Eichengreen is a leading American economist and one of the world’s foremost experts on international monetary systems. He is a professor of economics and political science at the University of California, Berkeley, where he has taught since 1987. He served as a senior policy adviser at the International Monetary Fund in 1997-98. Here, he discusses why today’s “de-dollarisation” talk is different from past episodes, how close the world is to a reshuffling of the international monetary... https://www-scmp-com.libproxy1.nus.edu.sg/plus/economy/china-economy/article/3364644/top-economist-how-china-should-prep-dollar-eras-end?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/plus/economy/china-economy/article/3364644/top-economist-how-china-should-prep-dollar-eras-end?utm_source=rss_feed Thu, 20 Aug 2026 05:03:28 +0000 Lam Ka-sing,Denise Tsang Lam Ka-sing,Denise Tsang What will a stronger international financial centre look like for Hong Kong? Doubling down on yuan internationalisation is a key focus, experts say in this second of our five-part series on the city’s first five-year blueprint. Read part one here. With a symbolic press of a button, top officials and securities regulators from Hong Kong and mainland China earlier this month marked a historic moment for the city’s financial markets. The August 3 launch of the first offshore Chinese government... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3363826/what-comes-next-hong-kong-global-financial-hub?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3363826/what-comes-next-hong-kong-global-financial-hub?utm_source=rss_feed Thu, 13 Aug 2026 00:30:11 +0000 Connor Mycroft,Eric Jiang,Danny Mok Connor Mycroft,Eric Jiang,Danny Mok Police in Paraguay have launched an investigation into the death of a Hong Kong-born cryptocurrency fund executive as speculation swirled over the case. Experts on Wednesday also warned of a global rise in violent extortion attempts targeting digital asset holders, a phenomenon known as “wrench attacks”. Paraguayan police are investigating the death of Harry Yeh Chun-tak, who was found dead outside his residential building in Asuncion after a suspected fall from his 30th-floor flat earlier this... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/law-and-crime/article/3363813/paraguay-probe-hong-kong-born-crypto-execs-death-triggers-wrench-attack-warning?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/law-and-crime/article/3363813/paraguay-probe-hong-kong-born-crypto-execs-death-triggers-wrench-attack-warning?utm_source=rss_feed Wed, 12 Aug 2026 12:28:10 +0000 Themis Qi Themis Qi A Standard Chartered-led joint venture kicked off institutional use of Hong Kong dollar-backed stablecoins on Wednesday, a year after the city put its stablecoin law into effect as part of an effort to become a global hub for digital assets. Retail use of the regulated cryptocurrency was expected “as early as end-2026”, subject to market conditions, said Anchorpoint Financial, a Hong Kong-licensed stablecoin issuer, in a statement on Wednesday. A joint venture formed by Standard Chartered,... https://www-scmp-com.libproxy1.nus.edu.sg/business/cryptocurrency/article/3363800/hong-kong-stablecoin-selection-expands-standard-chartered-led-ventures-launch?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/cryptocurrency/article/3363800/hong-kong-stablecoin-selection-expands-standard-chartered-led-ventures-launch?utm_source=rss_feed Wed, 12 Aug 2026 11:06:58 +0000 Daisy Wu Daisy Wu The Asian Infrastructure Investment Bank (AIIB) is setting its sights on tokenised payments and digital settlement systems, tapping into Hong Kong’s growing digital finance ecosystem as part of a broader push to modernise its capital market operations, according to a senior official at the bank. “That is a sector that we are exploring with interest,” Domenico Nardelli, the AIIB’s treasurer and acting chief financial officer, told the South China Morning Post in an interview last week,... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3362580/aiib-explores-digital-payments-eyes-hong-kong-hub-it-raises-record-funds?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3362580/aiib-explores-digital-payments-eyes-hong-kong-hub-it-raises-record-funds?utm_source=rss_feed Sun, 02 Aug 2026 13:00:13 +0000 Xinmei Shen,Richard Chen Xinmei Shen,Richard Chen Hong Kong has approved its first “digitally native” tokenised fund, allowing professional investors to hold direct ownership of the underlying assets on a public blockchain, issuer Baillie Gifford says, as the city steps up its challenge to the US as a global crypto hub. The British fund manager said on Wednesday it had received approval from the Securities and Futures Commission to launch the Baillie Gifford Enhanced Yield Fund (BAGEY) – an actively managed portfolio of short-duration... https://www-scmp-com.libproxy1.nus.edu.sg/tech/blockchain/article/3360652/hong-kong-steps-us-crypto-fund-challenge-tokenised-fund-approval?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/tech/blockchain/article/3360652/hong-kong-steps-us-crypto-fund-challenge-tokenised-fund-approval?utm_source=rss_feed Wed, 15 Jul 2026 08:26:00 +0000 Christine Loh Christine Loh Like many people outside the United States, I admire much of what it represents: open debate, strong institutions, energetic politics and the belief that public power should be restrained by rules. That is why watching the US today is so extraordinary. Consider US President Donald Trump’s meme coin. Nearly a million accounts that bought the $TRUMP coin have lost money, according to a report in The New York Times based on analysis of blockchain transactions. Their collective losses have been... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/world-opinion/article/3359796/trumps-crypto-windfall-showcases-his-ability-turn-loyalty-power?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/opinion/world-opinion/article/3359796/trumps-crypto-windfall-showcases-his-ability-turn-loyalty-power?utm_source=rss_feed Sat, 11 Jul 2026 21:30:07 +0000 Zoe SL Chan Zoe SL Chan With its multi-currency advantages and regulatory clarity, Hong Kong has become a critical gateway connecting stablecoins – cryptocurrencies pegged to a stable asset like the US dollar – with traditional finance. Executives said this would help businesses cut costs, lower risks and support expansion into emerging markets. The city’s unique positioning stemmed from its century-long role as a gateway for international business, said Arjun Sethi, Co-CEO of Payward, the parent company of Kraken – a... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3360137/why-payward-building-its-asian-stablecoin-gateway-hong-kong?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3360137/why-payward-building-its-asian-stablecoin-gateway-hong-kong?utm_source=rss_feed Fri, 10 Jul 2026 10:08:52 +0000 Lawrence J. Lau Lawrence J. Lau The China Securities Regulatory Commission recently fined three Hong Kong brokerages – Tiger Brokers, Futu Securities International and Longbridge Securities – over US$330 million for offering mainland investors access to overseas stocks without authorisation. This should not be misconstrued as a move to discourage overseas investment. It is merely an attempt to discourage mainland investors from illegal channels that violate China’s capital controls. This is evidenced by the fact that the... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/china-opinion/article/3358927/when-and-how-will-china-ease-capital-controls?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/opinion/china-opinion/article/3358927/when-and-how-will-china-ease-capital-controls?utm_source=rss_feed Thu, 02 Jul 2026 12:30:11 +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?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/world/united-states-canada/article/3358960/trump-reports-more-us14-billion-income-crypto-ventures?utm_source=rss_feed Tue, 30 Jun 2026 23:05:20 +0000 Reuters Reuters Almost 1,700 British ⁠investors are suing ⁠Binance and founder ⁠Zhao Changpeng for at least £150 million (US$200 million), alleging the crypto trading platform sold them risky, complex derivative products without regulatory authorisation. The claimants, some ‌of whom said they had lost tens of thousands of pounds, allege Binance entities knowingly sold investments such as leveraged products, which can amplify gains or losses, from late 2019 and promoted ⁠them in breach of the Financial Services... https://www-scmp-com.libproxy1.nus.edu.sg/news/article/3358948/uk-investors-sue-binance-and-founder-zhao-changpeng-us200-million?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/article/3358948/uk-investors-sue-binance-and-founder-zhao-changpeng-us200-million?utm_source=rss_feed Tue, 30 Jun 2026 18:06:50 +0000 Theodora Yu Theodora Yu Hong Kong police have arrested 69 people linked to a syndicate suspected of laundering about HK$200 million (US$25.5 million) from cross-border investment fraud affecting more than 170 victims. The force said on Tuesday that 54 men and 15 women, aged between 18 and 60, were arrested on Monday in a joint operation with mainland Chinese authorities for alleged money laundering, involving “mule” bank accounts. Losses from investment scams in Hong Kong reached HK$920 million between January and... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/law-and-crime/article/3358070/hong-kong-police-arrest-69-over-laundering-hk200m-cross-border-fraud?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/law-and-crime/article/3358070/hong-kong-police-arrest-69-over-laundering-hk200m-cross-border-fraud?utm_source=rss_feed Tue, 23 Jun 2026 10:15:05 +0000 Lucy Quaggin Lucy Quaggin Chinese money laundering networks were accused of being “financial fuel” for the Mexican cartels at a congressional hearing on Tuesday, where witnesses urged US President Donald Trump to prioritise the issue at his next face-to-face meeting with Chinese counterpart Xi Jinping. “I want to be very clear, Chinese money laundering networks have become the financial fuel for cartels to poison Americans and threaten our borders, we’re seeing a Silk Road of crime across the Americas,” said Leland... https://www-scmp-com.libproxy1.nus.edu.sg/news/us/diplomacy/article/3356556/us-lawmakers-urge-trump-press-xi-chinese-money-laundering-tied-mexican-cartels?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/us/diplomacy/article/3356556/us-lawmakers-urge-trump-press-xi-chinese-money-laundering-tied-mexican-cartels?utm_source=rss_feed Tue, 09 Jun 2026 20:59:48 +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?utm_source=rss_feed 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?utm_source=rss_feed Fri, 05 Jun 2026 10:45:05 +0000 Agence France-Presse Agence France-Presse A museum in eastern France on Sunday reported to police the theft of a banana that forms a core part of a multimillion-dollar artwork by Italian visual artist Maurizio Cattelan. The missing fruit – which was taped to a wall to form the provocative work by Cattelan called Comedian – was noticed by a guard on Saturday to have gone missing. An iteration of the artwork was bought by Chinese-born cryptocurrency founder Justin Sun in 2024. He forked out US$6.2 million for the work, then days later ate... https://www-scmp-com.libproxy1.nus.edu.sg/news/world/europe/article/3355488/french-museum-reports-theft-banana-italian-artists-multimillion-dollar-work?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/world/europe/article/3355488/french-museum-reports-theft-banana-italian-artists-multimillion-dollar-work?utm_source=rss_feed Sun, 31 May 2026 18:36:22 +0000 Enoch Yiu Enoch Yiu Charles Li Xiaojia, the longest-serving CEO of Hong Kong Exchanges and Clearing (HKEX), defined a decade of city finance by bridging the gap between Chinese and global capital. From his early days as an offshore oil worker in northeastern China to serving as chairman of JPMorgan Chase’s China division, Li’s career has resembled China’s own economic opening. In his 11 years as HKEX CEO before stepping down in 2021, Li masterminded the landmark Stock Connect schemes linking the Hong Kong market... https://www-scmp-com.libproxy1.nus.edu.sg/plus/business/china-business/article/3355126/charles-li-making-hong-kong-magnet-global-ipos?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/plus/business/china-business/article/3355126/charles-li-making-hong-kong-magnet-global-ipos?utm_source=rss_feed Thu, 28 May 2026 05:45:05 +0000 Letters Letters Feel strongly about these letters, or any other aspects of the news? Share your views by emailing us your Letter to the Editor at letters@scmp.com or filling in this Google form. Submissions should not exceed 400 words. When the Hong Kong Monetary Authority licensed the city’s first two stablecoin issuers in April, HSBC and Anchorpoint Financial, it capped one of the fastest regulatory build-outs this market has seen. The first licensed Hong Kong dollar stablecoin made its first live transfer... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/letters/article/3354976/mind-gap-between-hong-kong-digital-asset-policy-and-practice?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/opinion/letters/article/3354976/mind-gap-between-hong-kong-digital-asset-policy-and-practice?utm_source=rss_feed Thu, 28 May 2026 03:30:05 +0000 Xinmei Shen Xinmei Shen Hong Kong has finalised its regulatory framework for the digital asset industry, wrapping up a public consultation on a new licensing regime for firms advising on and managing virtual assets. Signalling a milestone in the city’s quest to become a global crypto hub, the Financial Services and the Treasury Bureau (FSTB) and the Securities and Futures Commission (SFC) said on Tuesday that the proposed rules received “broad market support” and would head to the Legislative Council later this... https://www-scmp-com.libproxy1.nus.edu.sg/tech/policy/article/3354991/hong-kong-finalises-crypto-regulatory-framework-lock-global-hub-ambitions?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/tech/policy/article/3354991/hong-kong-finalises-crypto-regulatory-framework-lock-global-hub-ambitions?utm_source=rss_feed Wed, 27 May 2026 09:00:07 +0000 Connor Mycroft Connor Mycroft Gold can serve as a “potential bridge” between conventional and new forms of finance, Hong Kong’s treasury minister has said, highlighting the need for the city to provide more opportunities for the digital asset market to grow. Secretary for Financial Services and the Treasury Christopher Hui Ching-yu also said on Wednesday that Hong Kong had opted against forming a separate regulatory authority for digital assets due to the “convergence” between conventional and innovative finance. During a... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3354257/hong-kong-minister-touts-gold-bridge-between-conventional-and-new-finance?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3354257/hong-kong-minister-touts-gold-bridge-between-conventional-and-new-finance?utm_source=rss_feed Wed, 20 May 2026 10:27:54 +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?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/special-reports/article/3352492/nft-hype-dead-its-tech-remains-useful-art-experts-say?utm_source=rss_feed Tue, 05 May 2026 22:00:12 +0000 Reuters Reuters World Liberty ⁠Financial, the crypto venture co-founded ⁠by US President Donald Trump and his sons, said on Monday it had filed a defamation lawsuit against Hong Kong-based crypto entrepreneur Justin Sun, in the latest escalation of a dispute ‌between the project and one of its most prominent backers. World Liberty posted a copy of its lawsuit on X in which it accused Sun of launching a “public smear campaign” including claims that it said were false. The crypto project – one of several... https://www-scmp-com.libproxy1.nus.edu.sg/news/world/united-states-canada/article/3352408/trump-familys-crypto-project-sues-billionaire-backer-justin-sun?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/world/united-states-canada/article/3352408/trump-familys-crypto-project-sues-billionaire-backer-justin-sun?utm_source=rss_feed Mon, 04 May 2026 15:42:44 +0000 Eunice Xu Eunice Xu Stablecoin payments into Hong Kong are surging on the cross-border payment network of Circle Internet Group, operator of the world’s second largest stablecoin issuer USDC, as the US firm eyes regulatory approval in the Asian crypto hub, its CEO said in an interview. “Hong Kong remains a central trade hub, and cross-border payments and cross-border trade are major drivers in the adoption of stablecoins,” said Jeremy Allaire, co-founder and CEO of Circle. He said that payments into Hong Kong were... https://www-scmp-com.libproxy1.nus.edu.sg/tech/blockchain/article/3352027/hong-kong-key-global-hub-usdc-cross-border-payments-circle-ceo?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/tech/blockchain/article/3352027/hong-kong-key-global-hub-usdc-cross-border-payments-circle-ceo?utm_source=rss_feed Fri, 01 May 2026 00:30:08 +0000 Agence France-Presse Agence France-Presse Police in Thailand have arrested an Indonesian who allegedly defrauded Americans of about US$10 million, Thai authorities say, adding that they will extradite him to the United States. The 33-year-old Indonesian man was arrested on Friday at a luxury resort in the coastal town of Phuket after a tip-off from the US Federal Bureau of Investigation (FBI), Suriya Poungsombat of the national immigration police said on Sunday. The FBI had informed Thai authorities that the suspect left Dubai and... https://www-scmp-com.libproxy1.nus.edu.sg/news/asia/southeast-asia/article/3351508/thailand-extradite-indonesian-man-us10-million-scam-targeting-americans?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/asia/southeast-asia/article/3351508/thailand-extradite-indonesian-man-us10-million-scam-targeting-americans?utm_source=rss_feed Mon, 27 Apr 2026 02:07:04 +0000 Sylvia Ma Sylvia Ma Daniel Gros is the director of the Institute for European Policymaking at Bocconi University. Previously, he served as an adviser to the European Parliament, collaborated with the European Commission as economic adviser to the Delors Committee, which developed plans for the euro, and worked at the International Monetary Fund. In this interview, Gros examines the structural tensions shaping EU-China economic ties, draws lessons from the euro’s experience to analyse the yuan’s... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3351329/daniel-gros-what-china-can-learn-euro-it-works-towards-global-yuan?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3351329/daniel-gros-what-china-can-learn-euro-it-works-towards-global-yuan?utm_source=rss_feed Sun, 26 Apr 2026 22:00:14 +0000 Fiona Chow Fiona Chow A Hong Kong court has acquitted a former senior manager at a major Chinese cryptocurrency exchange of secretly moving about US$5 million in Tether stablecoins, worth around HK$39 million, to his own accounts six years ago. A seven-member High Court jury on Friday found Chen Boliang, who used to work at cryptocurrency firm Huobi – now known as HTX – not guilty of accessing its platform to trade in so-called dark pools under an individual account he created with an alias between February 27 and... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/law-and-crime/article/3351270/ex-manager-crypto-firm-huobi-acquitted-moving-millions-tether-account?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/law-and-crime/article/3351270/ex-manager-crypto-firm-huobi-acquitted-moving-millions-tether-account?utm_source=rss_feed Fri, 24 Apr 2026 06:24:23 +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?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/tech/article/3351160/chinese-economist-fu-peng-joins-hong-kong-listed-bitfire-hails-cryptos-historic-rise?utm_source=rss_feed Thu, 23 Apr 2026 11:00:09 +0000 Sylvia Ma Sylvia Ma Daniel Gros is the director of the Institute for European Policymaking at Bocconi University. Previously, he served as an adviser to the European Parliament, collaborated with the European Commission as economic adviser to the Delors Committee, which developed plans for the euro, and worked at the International Monetary Fund. In this interview, Gros examines the structural tensions shaping EU-China economic ties, draws lessons from the euro’s experience to analyse the yuan’s... https://www-scmp-com.libproxy1.nus.edu.sg/plus/economy/china-economy/article/3351083/euro-yuan-unlikely-match-us-dollar-global-currencies-daniel-gros-says?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/plus/economy/china-economy/article/3351083/euro-yuan-unlikely-match-us-dollar-global-currencies-daniel-gros-says?utm_source=rss_feed Thu, 23 Apr 2026 04:30:08 +0000 Agence France-Presse Agence France-Presse Entrepreneur Justin Sun filed a lawsuit on Wednesday accusing a Trump family-backed cryptocurrency platform of fraud and alleging he was blocked from withdrawing his assets. In a San Francisco federal court filing reviewed by Agence France-Presse, the Chinese-born crypto billionaire and former Trump ally claims to have bought US$45 million worth of WLFI, an electronic currency launched by World Liberty Financial in October 2024. To thank him for the investment – at a time when WLFI was... https://www-scmp-com.libproxy1.nus.edu.sg/news/world/united-states-canada/article/3351063/billionaire-justin-sun-sues-trump-family-crypto-venture?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/world/united-states-canada/article/3351063/billionaire-justin-sun-sues-trump-family-crypto-venture?utm_source=rss_feed Wed, 22 Apr 2026 23:08:16 +0000 Kun Tian Kun Tian The most revealing fact about Hong Kong’s stablecoin launch is not that licences were issued. It is who got them, and who did not. By handing the first approvals to HSBC and the Standard Chartered-led joint venture Anchorpoint Financial, regulators made clear from the start that digital money in Hong Kong will be bank-led. That choice matters because Hong Kong is not trying to become Asia’s easiest venue for cryptocurrency experimentation. Rather, it is trying to become the most credible place... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/hong-kong-opinion/article/3350356/what-hong-kongs-conservative-stablecoin-licence-roll-out-reveals?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/opinion/hong-kong-opinion/article/3350356/what-hong-kongs-conservative-stablecoin-licence-roll-out-reveals?utm_source=rss_feed Wed, 22 Apr 2026 22:30:08 +0000 Agence France-Presse Agence France-Presse A notorious North Korean hacking group is likely behind the theft of nearly US$300 million in cryptocurrency over the weekend, an affected party has said, in the biggest known crypto heist this year. It is the latest such incident linked to North Korea, whose sophisticated cybercrime programme uses stolen cryptocurrency to help fund its nuclear weapons development, according to a United Nations panel. Digital currency news site CoinDesk said the heist on the vault of online investment tool... https://www-scmp-com.libproxy1.nus.edu.sg/news/asia/east-asia/article/3350964/north-koreas-lazarus-suspected-stealing-us290-million-kelpdao-cyberattack?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/asia/east-asia/article/3350964/north-koreas-lazarus-suspected-stealing-us290-million-kelpdao-cyberattack?utm_source=rss_feed Wed, 22 Apr 2026 05:12:23 +0000 Xinmei Shen Xinmei Shen Hong Kong has signalled its ambitions for greater global influence in the digital asset industry, with a lawmaker taking a subtle swipe at US crypto regulatory efforts at one of the city’s largest Web3-themed events. “We can be a little bit more aspirational now that we have a strong hold locally,” said Eric Yip Chee-hang, executive director of intermediaries at the Securities and Futures Commission (SFC). “We should also expand our influence by [increasing] exposure internationally.” Hong Kong... https://www-scmp-com.libproxy1.nus.edu.sg/tech/tech-trends/article/3350722/hong-kong-lawmaker-swipes-us-lack-clarity-city-eyes-global-crypto-lead?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/tech/tech-trends/article/3350722/hong-kong-lawmaker-swipes-us-lack-clarity-city-eyes-global-crypto-lead?utm_source=rss_feed Mon, 20 Apr 2026 10:00:25 +0000 Yeon Woo Lee Yeon Woo Lee Hong Kong is better placed than many of its Asian peers to turn stablecoins into commercially viable products at scale, underpinned by its early lead in tokenisation and growing experience in moving financial infrastructure on-chain, according to HSBC’s head of digital assets research. “Hong Kong already has examples of deploying the technology and can now look towards commercial applications and scaling,” said Daragh Maher, HSBC’s head of digital assets research, in an interview on the... https://www-scmp-com.libproxy1.nus.edu.sg/tech/blockchain/article/3350498/hong-kong-seen-leading-asia-push-scale-stablecoins-hsbc-says?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/tech/blockchain/article/3350498/hong-kong-seen-leading-asia-push-scale-stablecoins-hsbc-says?utm_source=rss_feed Sat, 18 Apr 2026 02:30:11 +0000 Enoch Yiu Enoch Yiu For Hong Kong’s 3.3 million PayMe users, everyday transactions such as buying coffee or splitting bills with friends could soon involve stablecoins, with HSBC preparing to introduce the digital currency in the second half of this year. That comes after HSBC Holdings, together with a Standard Chartered-led joint venture, became the first to obtain a stablecoin issuer licence from the Hong Kong Monetary Authority on Friday, marking a breakthrough in the city’s digital finance development. HSBC,... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3350089/how-paymes-33-million-users-and-hong-kong-firms-could-start-using-stablecoins?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3350089/how-paymes-33-million-users-and-hong-kong-firms-could-start-using-stablecoins?utm_source=rss_feed Wed, 15 Apr 2026 00:00:37 +0000 Daniel Ren,Enoch Yiu Daniel Ren,Enoch Yiu The Hong Kong Monetary Authority (HKMA) is being urged to go further in loosening restrictions on stablecoins, after granting the city’s first two licences to banks to issue the digital currency. Bankers, venture capitalists and analysts said the long-awaited approvals – awarded to HSBC and a joint venture led by Standard Chartered – fell short of market expectations, underscoring the regulator’s cautious stance amid lingering risk concerns. “It came as a surprise that only two licences were... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3349742/hong-kong-regulator-urged-expand-stablecoin-rules-after-cautious-roll-out?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3349742/hong-kong-regulator-urged-expand-stablecoin-rules-after-cautious-roll-out?utm_source=rss_feed Sat, 11 Apr 2026 09:10:21 +0000 Enoch Yiu Enoch Yiu HSBC and a joint venture led by Standard Chartered have been awarded Hong Kong’s first stablecoin issuer licences, marking the city’s latest step towards embracing cryptocurrency’s most-traded cash substitute in its bid to become a global digital asset hub. Eight months after Hong Kong’s Stablecoin Ordinance, one of the world’s first such laws, took effect, HSBC and Anchorpoint Financial, the Standard Chartered-led group, received the green light from the Hong Kong Monetary Authority (HKMA) on... https://www-scmp-com.libproxy1.nus.edu.sg/business/cryptocurrency/article/3349644/hong-kong-awards-stablecoin-licences-hsbc-stanchart-led-group-long-awaited-roll-out?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/cryptocurrency/article/3349644/hong-kong-awards-stablecoin-licences-hsbc-stanchart-led-group-long-awaited-roll-out?utm_source=rss_feed Fri, 10 Apr 2026 09:09:55 +0000 Julie Zhang Julie Zhang OKX Ventures and HashKey Capital have agreed to invest in Vietnam’s cryptocurrency trading platform CAEX, a move the exchange said would give it enough capital to join the country’s regulated pilot scheme for digital asset trading. The combined capital injection from OKX Ventures and HashKey Capital, which would be deployed in April, aimed to help CAEX – officially known as Vietnam Prosperity Cryptocurrency Asset Exchange Joint Stock Company – reach the minimum charter capital threshold of 10... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3349530/okx-ventures-hashkey-investment-enables-vietnam-crypto-platforms-pilot-scheme-bid?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3349530/okx-ventures-hashkey-investment-enables-vietnam-crypto-platforms-pilot-scheme-bid?utm_source=rss_feed Fri, 10 Apr 2026 02:30:08 +0000 Letters Letters Feel strongly about these letters, or any other aspects of the news? Share your views by emailing us your Letter to the Editor at letters@scmp.com or filling in this Google form. Submissions should not exceed 400 words As Hong Kong prepares to issue its first stablecoin licences, much of the debate frames stablecoins in Hong Kong, China’s digital renminbi and US dollar-backed tokens as rival currencies competing on the same track. That comparison, however, risks missing the point. While these... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/letters/article/3349155/hong-kong-not-competing-us-stablecoins-or-digital-renminbi?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/opinion/letters/article/3349155/hong-kong-not-competing-us-stablecoins-or-digital-renminbi?utm_source=rss_feed Tue, 07 Apr 2026 03:30:08 +0000 SCMP Editorial SCMP Editorial Better safe than sorry – that seems to be why authorities have delayed the stablecoin roll-out. Industry players had expected the Hong Kong Monetary Authority (HKMA), the city’s de facto central bank, to announce the granting of a small number of stablecoin licences at the end of March. But the date came and went. The regulatory review process appears to be taking longer, given the regulators’ well-known cautious stance. But the policy – to make Hong Kong a digital-asset hub with stablecoins... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/comment/article/3348924/stablecoin-launch-delay-shows-hong-kong-would-rather-be-safe-sorry?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/opinion/comment/article/3348924/stablecoin-launch-delay-shows-hong-kong-would-rather-be-safe-sorry?utm_source=rss_feed Sun, 05 Apr 2026 23:15:16 +0000