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Cryptocurrency

Cryptocurrency
News and analysis about non-fiat, decentralised assets used as digital currencies, including bitcoin, ether, altcoins and stablecoins.
The Bank of America building in New York. The second-largest US bank failed to report hundreds of millions of dollars in suspicious transactions linked to Chinese money-laundering networks. Photo: AFP/Getty Images/TNS
US-China relations

Bank of America fined US$1.21 billion for suspected Chinese money laundering

Second-largest US bank failed to report hundreds of millions of dollars’ worth of transactions linked to Chinese money-laundering networks.

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Banking & finance

Opinion | Better protection needed as violent cryptocurrency robberies surge

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Crime in Hong Kong

Hong Kong woman loses HK$21.5 million in cryptocurrency scam

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Banking & finance

HSBC names its stablecoin for 3.3 million PayMe users: RedCoin

A survey by the lender shows that 74 per cent of customers know at least one use case, but there are also misunderstandings.

At launch before the end of the year, the stablecoin will be offered only through PayMe and HSBC’s Hong Kong mobile banking app, according to the lender. Photo: Handout
Bitcoin

Why Beijing is calling cryptocurrencies ‘accomplices’ in espionage

Ministry of State Security warns citizens not to be lured by ‘illusion’ of anonymous transactions.

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Hong Kong

Can Hong Kong use US crypto bill failure to boost its digital asset hub role?

City urged to act fast as window could vanish once Washington regains regulatory momentum.

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Singapore

Singapore man pleads guilty after massive US bitcoin heist and spending spree

The 22-year-old helped launder the stolen funds, then used the money to buy sports cars, rent mansions and spend millions at nightclubs.

A photo of Malone Lam in a Miami nightclub was included in this US Justice Department court filing in the case against Hamza Doost and Kunal Mehta, photographed on Friday. Photo: AP
Hong Kong society

Why Chelsea football shirts are making Hong Kong fans nervous about crypto laws

Caught between their favourite football club and Hong Kong’s Stablecoins Ordinance, fans want to know if they can wear the tops openly.

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Banking & finance

Gotta monetise ’em all: inside Hong Kong’s red-hot Pokemon card trading market

Hong Kong has evolved into a global centre for the booming Pokemon card trading market, with rare collectibles traded via tokenised funds.

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Singapore

How some grey-market crypto ATMs in Hong Kong can turn users into fraud victims

Tucked away in laundromats and arcades, machines offer easy access to crypto, but coming regulations will protect consumers, experts say.

A resident walks past three cryptocurrency ATMs at the Coinhero flagship store in Causeway Bay. Photo: Antony Dickson
Bitcoin

Crypto slump, AI boom overshadow CZ’s bullish pitch at Hong Kong’s Bitcoin Asia

Capital, talent and public attention have moved from crypto to AI, leaving the digital asset industry feeling ‘smaller’, says organiser.

Binance founder Changpeng Zhao speaks at the Bitcoin Asia conference in Hong Kong on Thursday. Photo: Reuters
Blockchain

Bitcoin tops US$80,000 for first time since May as US moves boost crypto

Washington’s buy-back efforts for US debt, cryptocurrency policy support credited for 25 per cent rally.

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Yuan

Open Questions | Top economist on how China should prep for dollar era’s end

Barry Eichengreen of the University of California, Berkeley, on US wobbles and how China and rest of the world can plan for a multipolar monetary system.

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Hong Kong economy

In Focus | What comes next for Hong Kong as a global financial hub?

Hong Kong needs more yuan products, commodity trading infrastructure and fintech innovation, market participants say.

Illustration: Henry Wong
Crime in Hong Kong

Paraguay opens probe into Hong Kong-born crypto exec’s death

Experts warn of violent extortion of crypto holders, while Paraguay authorities say all hypotheses remain open in death of Harry Yeh.

Authorities in Paraguay are investigating the death of Harry Yeh. Photo: Handout
Banking & finance

Hong Kong stablecoin list expands with Standard Chartered-led firm’s launch

Anchorpoint Financial kicks off institutional use of its Hong Kong dollar-linked stablecoin, HKDAP.

Banking & finance

AIIB explores digital payments, eyes Hong Kong hub as it raises record funds

The development bank aims to raise a record US$11 billion this year, as it continues to broaden its operations, according to a senior official.

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Blockchain

Hong Kong steps up its crypto hub challenge with tokenised fund

As the city looks to challenge the US as a global crypto hub, Baillie Gifford says the SFC has approved its blockchain-based tokenised fund.

British fund manager Baille Gifford says it has received approval from the Securities and Futures Commission to issue the city's first blockchain-based tokenised fund. Photo: Shutterstock
United States

Opinion | Trump’s crypto windfall showcases his ability to turn loyalty into power

Despite clear conflicts of interest and institutions meant to stop them, Trump has deftly weaponised and profited off the loyalty he demands.

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Stablecoins

Why Payward chose Hong Kong to be its Asian stablecoin gateway

By setting clear rules, Hong Kong is pushing to become the world’s safest launch pad for the digital currency.

China economy

Opinion | When and how will China ease capital controls?

While China has reasons to maintain capital controls, the recent crackdown on three Hong Kong brokerages is not meant to discourage mainland outbound investment.

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Illustration: Craig Stephens
Donald Trump

Trump reports earning over US$1.4 billion from crypto ventures

Token sales and meme coin royalties are the new driver of the US president’s personal wealth. He says ‘everybody’s profiting’.

US President Donald Trump talks on the phone in his limousine known as 'The Beast'. Photo: Reuters
Binance

UK investors sue Binance and founder Zhao Changpeng for US$200 million

Nearly 1,700 UK users have alleged that the world’s largest crypto exchange offered risky products without regulatory approval.

Crime in Hong Kong

Hong Kong police arrest 69 over laundering HK$200m from cross-border fraud

Suspects aged 18 to 60 held in joint operation targeting syndicate using mule accounts to launder proceeds from investment scams.

US-China relations

Trump urged to press Xi on Chinese money laundering tied to Mexican cartels

Congressional hearing witnesses encourage US president to tackle alleged fentanyl supply chain crisis linked to Chinese money laundering.

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Bags of heroin, laced with fentanyl, on display in New York. The ongoing fentanyl crisis in America has killed thousands. Photo: Getty Images/TNS
Banking & finance

Hong Kong taps group of experts to help rewrite rules for tokenised bonds

HKMA sets up the collective, spanning 21 institutions, in push to expand blockchain-based issuance beyond government pilots.

The Hong Kong Monetary Authority (HKMA) logo in IFC Two. Photo: Jonathan Wong
Art

French museum reports theft of banana from multimillion-dollar artwork

Pompidou-Metz museum contacts police after a guard notices Maurizio Cattelan’s iconic duct-taped centrepiece has vanished.

HKEX

Open Questions | Charles Li on making Hong Kong a magnet for global IPOs

As HKEX CEO, Charles Li forged Stock Connect link to mainland markets. He says an ‘IPO connect’ could draw international companies to list in Hong Kong.

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