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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.
Tokenised money market ETFs are one of the use cases in the HKMA’s Project Ensemble sandbox. Photo: Shutterstock
Banking & finance

Hong Kong to get world’s first tokenised money-market ETFs from Bosera, HashKey

Bosera HKD Money Market ETF and USD Money Market ETF, which have been approved by the SFC, are set to launch in April.

Singapore

Trump outsources ‘Made-in-America’ investments to Singapore crypto firm

North Korea

North Korea is rolling in bitcoin. Only the US and UK have more

US-China relations

‘A geopolitical move’: Trump’s big bet on crypto raises questions for China

China has kept unregulated digital currencies at arm’s length, but the US is going all-in on crypto. Will this big bet give the US dollar new life?

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Illustration: Pearl Law
Singapore

Singapore to list bitcoin futures, join shift in expanding crypto derivatives

The move reflects a trend of traditional exchanges entering the cryptocurrency derivatives market to provide a regulated platform for trading digital assets.

Blockchain

Ethereum co-founder Gavin Wood says Web3 is on track as finance firms move in

Wood’s newer project Polkadot is focused on scaling decentralised applications, with many developers coming from China.

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Banking & finance

Hong Kong’s dollar peg seen as advantage amid stablecoin growth

Stablecoin transactions are now a fifth of all cryptocurrency transactions, and they make it easier to transact in US dollar-backed assets.

As Hong Kong courts cryptocurrency business to the city, the local currency’s peg to the US dollar could be a standout advantage where stablecoins are concerned. Photo: Shutterstock
Bitcoin

Trump wants the US to be the world’s crypto capital. Will China take notice?

The global impact of Trump’s cryptocurrency reserve and a White House summit on the asset will be watched, analysts say.

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Blockchain

Bitcoin up after Trump names cryptocurrencies in strategic reserve

The world’s largest cryptocurrency is up by more than 20 per cent from the November lows.

China economy

Letters | Trump’s digital dollar ban leaves the field open for China

Readers discuss the potential of China’s central bank digital currency, and whether Hong Kong should impose carbon taxes.

A woman displays a cup of coffee purchased with China’s digital yuan at the Digital China Summit in Fuzhou in southeast China’s Fujian province on April 26, 2023. Photo: Xinhua
Blockchain

Hong Kong launches first retail tokenised money market fund in Web3 push

ChinaAMC’s Hong Kong dollar-denominated fund launched on the cryptocurrency exchange OSL and securities brokerage Solomon on Friday.

ChinaAMC is offering the first tokenised money market fund to retail investors in Hong Kong. Photo: Shutterstock
Cryptocurrency

US securities regulator files to dismiss Coinbase lawsuit

A court has separately paused the SEC’s lawsuit against Binance after a joint request, citing implications of the agency’s new crypto task force.

North Korea

FBI blames North Korea for US$1.5 billion ByBit crypto hack

According to the company, a hacker gained control of an ether wallet and transferred the holdings to an unidentified address.

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Blockchain

Bitcoin slides below US$90,000 as cryptocurrency sell-off hastens

Tumbling crypto prices mirror a broader retreat from risky assets, while sentiment has also soured following a hack targeting exchange Bybit.

Bitcoin has retreated from a peak following the election of Donald Trump as US president. Photo: dpa
North Korea

Crypto exchange Bybit, hit by largest crypto theft ever, stokes sell-off

After exchange operator loses ether from a cold wallet in a North Korea-linked attack, bitcoin and ether fall as industry enthusiasm wanes.

Bybit said US$1.5 billion worth of ether was stolen in a “sophisticated attack” on one of its cold wallets. Photo: AP
Blockchain

OKX crypto exchange operator enters US$505 million guilty plea, US says

Prosecutors said that from 2018 through early 2024, OKX was used to facilitate more than US$5 billion in suspicious transactions and criminal proceeds.

Icons and Influencers

Who is Bo Hines, the ex-college footballer Trump chose as crypto adviser?

Hines played football at North Carolina State and Yale, but always wanted to be a politician – he has few cryptocurrency credentials, yet has been chosen to advise on the digital landscape.

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Blockchain

Consensus Hong Kong: regulators seek ‘global liquidity’ in crypto amid Web3 push

The SFC licensed its first international crypto exchange on Tuesday as it courts global business at major Web3 conference.

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Physical representations of bitcoin seen at Consensus Hong Kong, organised by CoinDesk, at the Convention and Exhibition Centre on Wednesday. Photo: AFP
Blockchain

Tokenisation a ‘defining trend’ in Hong Kong, official says at Consensus

Tokenisation will be ‘profoundly transformative’, Secretary for Financial Services Christopher Hui said, as companies pile into the burgeoning business.

Americas and the Caribbean

Argentina’s Milei denies promoting cryptocurrency that crashed

Argentina’s president spoke out for the first time about a cryptocurrency scandal that has dented his reputation.

Cryptocurrency

Consensus building: crypto conference arrives in Hong Kong amid Web3 changes

Hong Kong is leaning into its role in traditional finance as it courts Web3 enthusiasts to the city for CoinDesk’s Consensus Hong Kong.

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An illustration featuring US President Donald Trump holding bitcoin outside a cryptocurrency exchange in Hong Kong on December 5. Photo: Reuters
Blockchain

Binance seeks pause in legal battle as Trump draws up crypto policy

The parties say the SEC’s new task force on cryptocurrency regulations may ‘impact and facilitate the potential resolution of this case’.

The SEC in 2023 sued Binance, its US unit and founder Zhao Changpeng, accusing them of artificially inflating trading volumes, diverting customer funds and misleading investors. Photo: Reuters
Yuan

Opinion | Trump’s digital dollar ban opens the door for China’s yuan

The US president’s decision to halt CBDC development may inadvertently hasten the de-dollarisation trend, smoothing path for yuan internationalisation.

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Hong Kong

Tencent-backed WeBank eyes Web3 expansion in Hong Kong

WeBank chief information officer Henry Ma said the virtual bank will be “deeply involved” in developing Hong Kong’s Web3 infrastructure.

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.

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
Blockchain

Trump’s meme coin draws billions in crypto trading volume

Major exchanges like Coinbase and Binance say they intend to list Trump’s token on their platform, while Melania also unveiled a coin.

US president-elect Donald Trump and his wife Melania visit the Arlington National Cemetery in Virginia on Sunday. Photo: AP Photo
Yuan

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

Helped by digital yuan and advancements in financial tech, more yuan-backed transactions are taking place in crude settlement.

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.

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