7 h. ago With early stablecoin law, Hong Kong looks to keep edge as finance hub

With the passage of one of the world’s most comprehensive stablecoin laws two weeks ago, Hong Kong is looking to stay at the forefront of global finance while addressing lessons from past industry setbacks, according to analysts. Being a “first mover” in stablecoin legislation “reflects the determination” of the city’s government to “unlock value that they see in this sector, given the number of hurdles from past incidents”, said Melvin Deng, CEO of digital asset trading firm QCP Capital. Hong...

Politics

8 d. ago With Hong Kong’s stablecoin law, mainland firms are preparing for a market boom

Hong Kong’s move to legalise stablecoins – cryptocurrencies that maintain a fixed value by being pegged to a reference asset – is grabbing the attention of mainland institutions, as a leading Chinese brokerage predicts a boom in tokenised real-world assets (RWA) in the city. While Beijing has remained largely quiet on Hong Kong’s new stablecoin bill in the two weeks since it was passed, paving the way for the issuance of such assets in the city, discussions about the market and geopolitical...

Economics

1 week ago OKX sees tipping point for blockchain tech amid rising crypto sentiment

OKX, one of the world’s largest cryptocurrency exchanges by trading volume, is preparing for explosive growth in blockchain adoption in the coming years, according to chief commercial officer Lennix Lai, although plans for the Hong Kong market remain on the back burner. In a report co-produced by OKX and Blockworks Research, the companies outline a bright future for the adoption of blockchain technology across myriad industries, from traditional finance to video gaming. Many of the use cases...

Politics

2 w. ago Hong Kong’s crypto industry optimistic about stablecoin ‘legal clarity’

In the days after Hong Kong passed a bill to regulate stablecoins on May 21, people in the industry celebrated the government’s forward-looking stance on the cryptocurrency assets, but its stringent requirements – similar to how it regulated other virtual assets – could be a double-edged sword in the near term. “Regular independent audits and strict disclosure obligations further bolster confidence in the sector, although in the short run it may increase operational costs and limit market entry,...

Politics

2 w. ago After Trump crypto dinner, Justin Sun celebrates ‘strong signal’ to the industry

The Tron founder, with the largest holding of the $TRUMP memecoin, tells the Post that he sees recent US crypto moves affecting China.

Politics

3 w. ago Crypto giant Coinbase warns of US$400 million hit from cyberattack, refuses to pay ransom

Hackers have paid multiple contractors and employees working in support roles outside the US to collect information, the company says.

Events

4 w. ago Trump’s crypto ‘reset’ cheered by industry calling for more regulatory clarity

US crypto investors contributed millions of dollars to Trump’s election victory and did not conceal lingering contempt for Biden at Consensus.

Politics