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Digital currencies

Digital currencies
The latest news, analysis and opinion on Digital currencies. In-depth analysis, industry insights and expert opinion.
last updated:
9 September, 2024
Hong Kong’s bitcoin exchange-traded funds have so far been off limits to mainland investors, but some see hope in new measures aimed at financial opening in the Greater Bay Area. Photo: Shutterstock
Cryptocurrency

Hong Kong bitcoin ETFs could open to some mainland investors under new measures

New rules further opening up China’s financial markets could give some mainlanders access to cryptocurrency investment products for the first time.

Blockchain

Trump’s meme coin draws billions in crypto trading volume

Yuan

China’s yuan on the rise in oil trade, but petrodollar here to stay: report

Blockchain

BitMEX fined US$100 million for violating anti-money-laundering laws

Prosecutors accuse BitMEX and its founders of failing to adopt anti-money-laundering and “know your customer” programmes.

BitMEX has been fined US$100 million for anti-money-laundering violations. Photo: SCMP
United States

Binance, Changpeng Zhao lose US Supreme Court appeal in unregistered tokens suit

The court’s decision allows a class-action lawsuit to proceed, finding that US securities laws apply despite Binance’s foreign operations.

United States

Opinion | Up in the air whether US economic arrows will hit the mark

If the Trump 2.0 team is as uncoordinated as Trump 1.0, we will see arrows flying everywhere.

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Crime

Do Kwon pleads not guilty to US fraud charges in US$40 billion crypto collapse

Fallen cryptocurrency mogul makes his first US court appearance after being extradited from Montenegro.

Montenegrin police escort South Korean cryptocurrency entrepreneur Do Kwon, centre. Photo: AFP
Blockchain

Bitcoin doubles in 2024, as analysts expect more gains in 2025

‘We remain convinced US$100,000 is not the final milestone,’ analysts at brokerage Bernstein say.

United States

South Korean crypto mogul Do Kwon extradited to US after months on the run

Kwon, wanted in the US and South Korea for alleged fraud linked to the collapse of his TerraUSD stablecoin, has been extradited from Montenegro to face charges.

Blockchain

Bitcoin rally loses steam in final days of record-breaking year

Bitcoin and its smaller rivals are struggling for traction, after the largest cryptocurrency surged to a record high last week.

Bitcoin is retreating after hitting a record high earlier this month. Photo: Reuters
Financial regulation

As stablecoin bill advances in Hong Kong legislature, advocates trumpet it

Stablecoins have the ability to expand their usage in the real financial economy, according to industry experts.

A bill about stablecoins is making its way through the Legislative Council. Photo: Shutterstock
Cryptocurrency

Hong Kong licenses 4 more crypto exchanges amid bitcoin price surge

The approvals bring the total number of licenced virtual asset firms to seven, as Hong Kong moves to revive its crypto industry.

Bitcoin

US bankers cautious about crypto amid expectations of regulatory easing

Goldman Sachs CEO David Solomon said the Wall Street giant would ‘evaluate’ dealing in top cryptocurrencies like bitcoin and ether if rules change.

Cryptocurrency

Hong Kong’s crypto faithful favour local regulations, fear ‘unpredictable’ Trump

The chair of the Silk Road Economic Development Research Centre said the city still has a chance to lead in Web3 in the next decade.

Some still see room for Hong Kong to be a global leader in cryptocurrency, even as momentum shifts to the US in anticipation of Donald Trump’s return to the presidency. Photo: Shutterstock
Financial regulation

Hong Kong to introduce stablecoin bill to regulate virtual token

The government published the Stablecoins Bill in the gazette on December 6; first reading in the Legislative Council set for December 18.

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If passed, the Hong Kong Monetary Authority will be empowered to supervise, investigate and enforce the regulatory regime. Photo: Shutterstock Images
Bitcoin

El Salvador’s President Bukele triumphant after his bet on bitcoin comes true

As bitcoin surpassed US$100,000 for first time, value of El Salvador government’s reported investment now stands at more than US$600 million.

Cryptocurrency

China’s selfie app Meitu sells all crypto before bitcoin hit US$100,000

Meitu netted US$80 million on bitcoin and ether holdings, exiting the crypto market amid a historic rally after the US re-elected Donald Trump.

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Yuan

Bybit CEO says Chinese can trade crypto though VPN, but not with yuan

Bybit CEO Ben Zhou says the company plans to reapply for a Hong Kong licence next year even though regulators bar selling crypto to mainlanders.

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Bybit co-founder and CEO Ben Zhou said the cryptocurrency exchange would not cross China’s “red line” of allowing trading in yuan. Photo: Shutterstock
Yuan

China’s digital yuan roared out of the gate, but stumbling blocks have popped up

Corruption and a slow adoption of the e-CNY risk undermining the groundbreaking progress that China’s digital currency has made over the past decade.

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Cryptocurrency

Decentralised kingdom: bitcoin’s Trump bump and how China lost its crypto crown

As the world’s factory, China cornered the market on bitcoin mining, leading to a flurry of crypto business activity before a harsh crackdown in 2021.

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Blockchain

Bitcoin’s march towards historic US$100,000 level stalls

‘Bitcoin was extremely overbought since the election,’ one analyst says.

Bitcoin hovered near US$97,000 early in Asia on Monday. Photo: AP Photo
Donald Trump

Trump pick Lutnick’s firm in talks with Tether about US$2 billion bitcoin lending project

Commerce secretary pick’s finance firm could receive support from Tether to help fund project to lend dollars to clients against bitcoin.

Howard Lutnick, who is chairman and CEO of Cantor Fitzgerald. File photo: Reuters
SCMP Highlights

Recap | Shanghai court says crypto ownership legal, Hong Kong food-delivery drones: 5 tech stories

Explore China’s tech landscape, from crypto ownership to AI-driven stock investments, in our latest stories from the world of technological innovation.

Blockchain

Bitcoin hits US$97,000 as crypto sector seeks White House post

The world’s largest digital asset reaches an all-time high in Asia on Thursday.

United States

Sam Bankman-Fried’s ex-deputy Gary Wang spared prison time over FTX fraud

Wang cooperated with the prosecution and testified in the trial that led to Bankman-Fried’s conviction on fraud and other charges.

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Former FTX executive Gary Wang attends his sentencing on fraud charges in New York on Wednesday. Photo: Reuters
Cryptocurrency

Shanghai court says crypto ownership legal in China amid bitcoin price surge

In an opinion on a recent lawsuit, a Shanghai judge wrote that cryptocurrencies have the attributes of property and thus holding it is legal.

Representations of bitcoin seen in this illustration picture taken in Paris on March 9. Photo: Reuters
US presidential election 2024

Musk suggests Trump let public weigh in on who should lead US Treasury

The billionaire himself endorses Howard Lutnick, saying the CEO of financial services firm Cantor Fitzgerald ‘will actually enact change’.

Cryptocurrency

Hong Kong bitcoin ETFs finally see trading surge after Trump bump in the US

The city’s three spot bitcoin ETFs became active trading targets this week, with US$17 million trading hands on Tuesday.

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