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Cryptocurrency

Cryptocurrency
News and analysis about non-fiat, decentralised assets used as digital currencies, including bitcoin, ether, altcoins and stablecoins.
Bitcoin has topped US$80,000 for the first time since May. Photo: Korea Times
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

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Hong Kong economy

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

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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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.

Sam Bankman-Fried, founder of collapsed cryptocurrency exchange FTX, leaves Manhattan federal court in New York in 2023. Photo: AP
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’.

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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Justin Sun at Korea Blockchain Week 2025 in Seoul. Photo: Reuters
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.

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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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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Illustration: Lau Ka-kuen
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.

Huobi began operations in mainland China in 2013 but pulled out of the country amid Beijing’s cryptocurrency crackdown in 2021. Photo: Handout
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.

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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