The UN: North Korea Laundered Money via Hong Kong-Based Blockchain Company

The UN: North Korea Laundered Money via Hong Kong-Based Blockchain Company

The United Nations is accusing North Korea of using a blockchain firm in Hong Kong to carry out money laundering schemes and other illicit activities. The English version of the Korean news outlet Chosun reported that the UN Security Council’s Sanctions Committee has initiate the investigation on North Korea regarding the issue. North Korea has a proven history of cyber attacks and home-grown hackers. The country has about 200 groups of hackers overseas and the…

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Crypto Exchanges in Hong Kong to Need Regulatory License to Operate

Crypto Exchanges in Hong Kong to Need Regulatory License to Operate

The Chief Executive of Hong Kong’s Securities and Futures Commission, Ashley Alder, announced at a fintech conference in Hong Kong that the region’s financial regulator is going to develop a framework for digital asset exchanges. The framework was to be released on Wednesday. Hong Kong is the hub for many of the largest cryptocurrency ventures, with several of the largest crypto exchanges operating in the region. Alder says that until now these exchanges had not…

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Tokens Pegged to Nike’s Sneakers Fall Sharply after Daryl Morey’s Hong Kong Tweet

Tokens Pegged to Nike’s Sneakers Fall Sharply after Daryl Morey’s Hong Kong Tweet

No one has ever thought that the protests in Hong Kong would ever affect the price of cryptocurrencies trading in U.S. crypto exchanges. But apparently, there is still some impact; at least on Nike’s Air Jordan tokens (such as AJBT, AJCP, AJIB and more) listed on the crypto exchange 55.com. Daryl Morey, the general manager of the Houston Rockets of the National Basketball Association (NBA), conveyed his support to the pro-democracy Hong Kong protesters through…

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Cashless ATMs in Hong Kong Spark Bitcoin Trading Spike

Cashless ATMs in Hong Kong Spark Bitcoin Trading Spike

Residents of Hong Kong have reported that the ATMs in the city have start running out of cash. The situation has given rise to Bitcoin(BTC)trade trading in the region. For the past several months, Hong Kong has witnessed a massive flood of dissidents joining national protests against the Chinese government. Reportedly, a large chunk of the seven million residents of the city are participating in the protests that aim to defy the Hong Kong and…

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Young Coin Master Angers Hong Kong Investors; Accused of HK$3 Million Fraud

Young Coin Master Angers Hong Kong Investors; Accused of HK$3 Million Fraud

In mid-December, we covered the story of cash falling from the sky in Hong Kong. A video of the incident posted online shows a hooded man throwing cash from a rooftop, with onlookers scrambling to grab the cash. Police were called to the scene and told the public not to pick up the cash. Officers collected HK$5,000. Although the man conducting the stunt was not identified, many people believed it to be cryptocurrency businessman Wong…

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Hong Kong Plans to Harden Regulation of Cryptocurrencies and ICOs

Hong Kong Plans to Harden Regulation of Cryptocurrencies and ICOs

Ever since their rise to fame in 2017, cryptocurrencies have also had to face criticism for the lack of security available on the platforms for their investors and stakeholders. Cryptocurrencies in specific and crypto assets in general, have always seemed elusive for government agencies to provide any form of oversight. However, as the world comes to grips with the fact that cryptocurrencies and other blockchain-powered technologies are here to stay, governments and institutions across the…

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‘Coin Young Master’ Presumably Throws Cash from the Sky in Hong Kong

‘Coin Young Master’ Presumably Throws Cash from the Sky in Hong Kong

A fantastical scene took place is an impoverished Hong Kong suburb on December 15. On Fuk Wa Street in Sham Shui Po, a man clothed in a black hoodie began throwing handfuls of banknotes onto the street below. There were HK$100 (US$13) banknotes shattered all over the street as people scrambled to witness the display. A video of the hooded man emerged on Facebook and it appeared he was delivering an announcement along with the…

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Hong Kong-Based Blockchain Fund Grandshores Technology to Issue a New Stablecoin

Hong Kong-Based Blockchain Fund Grandshores Technology to Issue a New Stablecoin

In a document released on December 3, the Hong Kong-based global blockchain fund Grandshores Technology Limited announced that Mr. Li Xiaolai was being appointed as an executive director and co-chief executive officer starting the same day. Among his responsibilities at the new position are going to be the launch of a new stablecoin, establishment of a Directed Acyclic Graph (DAG)-based public database, development of Trusted Execution Environment (TEE) technologies, and other blockchain related products. This…

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