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Cryptocurrency

Cryptocurrency
News and analysis about non-fiat, decentralised assets used as digital currencies, including bitcoin, ether, altcoins and stablecoins.
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
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.

United States

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

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Stablecoins

Why Payward chose Hong Kong to be its Asian stablecoin gateway

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’.

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.

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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.

Hong Kong police have arrested 69 people linked to a syndicate suspected of laundering about HK$200 million from cross-border investment fraud. Photo: Getty Images
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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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.

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.

A visitor looks at the “Comedian” artwork by Italian artist Maurizio Cattelan at the Centre Pompidou-Metz in Metz in May last year. On Sunday, 2025. (Photo by Jean-Christophe VERHAEGEN / AFP) / RESTRICTED TO EDITORIAL USE - MANDATORY MENTION OF THE ARTIST UPON PUBLICATION - TO ILLUSTRATE THE EVENT AS SPECIFIED IN THE CAPTION
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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Illustration; Victor Sanjinez
Stablecoins

Letters | Mind the gap between Hong Kong digital asset policy and practice

Readers discuss digital asset audits, the danger of setting a ride-hailing cap, and the bigger picture on allowing dogs in restaurants.

SFC

Hong Kong finalises crypto regulatory framework to lock in global hub ambitions

Under the new rules, firms providing advice or market analysis on virtual asset trading must meet strict capital requirements.

Hong Kong economy

Hong Kong minister touts gold as ‘bridge between conventional and new finance’

Treasury chief Christopher Hui also says city opted against separate regulatory authority for digital assets to support ‘convergence’.

A panel session on cryptocurrencies and digital assets is held at the Global Prosperity Summit. Photo: Karma Lo
Art

Are NFTs the hero or villain in the contemporary art scene?

In March, Art Basel Hong Kong featured a dedicated space for digital practices, raising the question: what’s next for non-fungible tokens?

The financial hype behind NFTs may have evaporated, but blockchain technology still has many applications. Photo: Josh Ye
United States

Trump family’s crypto project sues billionaire backer Justin Sun

The Trumps’ World Liberty Financial accused Sun of launching a ‘public smear campaign’.

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Stablecoins

Hong Kong a key global hub for USDC cross-border payments: Circle CEO

Circle recently announced a partnership with Hong Kong-listed OSL Group to expand USDC offerings in the city.

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Thailand

Thailand to extradite Indonesian man in US$10 million scam targeting Americans

The suspect allegedly hired models to lure targets into phoney investment schemes over video calls, dating apps and social media.

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Waves crash on Kalim beach in Phuket. The suspect was arrested from a luxury resort on the Thai island. Photo: Shutterstock
Yuan

Open Questions | Why China’s yuan faces the same ‘illusions’ that stalled the euro: Daniel Gros

Former European economic adviser says Beijing’s bid to build an international currency will hinge on leaders allowing it to fluctuate freely.

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Hong Kong courts

Ex-manager of crypto firm Huobi acquitted of moving millions into account

Chen Boliang accessed crypto platform now known as HTX to trade in dark pool under individual account, which is prohibited under regulations.

Investing

Chinese economist Fu Peng hails crypto’s historic rise as he joins Bitfire

The crypto asset management firm acquires a trading system and hires a team of 20 people from Avenir Group for US$1.6 million.

Chinese economist Fu Peng has joined Bitfire Group as chief scientist. Photo: Handout
Banking & finance

Open Questions | Euro, yuan unlikely to match US dollar, Daniel Gros says

German economist doubts EU and Chinese currencies will be widely used for international trade or that stablecoins will take off outside the ‘shadow economy’.

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Illustration: Lau Ka-kuen
United States

Billionaire Justin Sun sues Trump family crypto venture

The entrepreneur says his WLFI assets were frozen by World Liberty Financial, and he has been unable to resell the electronic currency.

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Hong Kong economy

Opinion | Hong Kong’s stablecoin roll-out puts banks at the centre of digital money

Hong Kong is building a bank-led digital money system, not a cryptocurrency free-for-all.

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North Korea

North Korea’s Lazarus suspected of stealing US$290 million from KelpDAO

Ethereum was ‘drained’ from KelpDAO in the biggest known cryptocurrency heist so far this year.

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A physical imitation of an Ethereum cryptocurrency token. Photo: AFP
Stablecoins

Hong Kong lawmaker swipes at US lack of ‘clarity’ as city eyes crypto lead

Hong Kong has granted its first two licences for stablecoin issuers, and is pushing forward regulations on crypto dealers and custodians.

The Hong Kong Web3 Festival is organised by Wangxiang blockchain labs and HashKey Group. Photo: Handout
China digital currency

Hong Kong seen leading Asia in push to scale stablecoins, HSBC says

Interoperability and real-world applications seen as key hurdles as city looks to unlock tokenisation’s full potential.

Fintech

How PayMe’s 3.3 million users and Hong Kong firms could start using stablecoins

HSBC eyes retail stablecoin roll-out via PayMe in second half of 2026, as Standard Chartered-led joint venture focuses on institutions first.

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