News & Analysis as of October 12, 2024

Hong Kong

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Virtual Currency (aka Digital Currency or Digital Money) is a type of currency or medium of exchange that is not issued by any government nor guaranteed by a government currency. Despite lacking legal tender status, Virtual Currency is still traded and exchanged in some environments, typically online environments or communities. Bitcoin is the most well-known form of Virtual Currency. less -

Weekly Blockchain Blog - April 2024 #5

BakerHostetler on 4/29/2024

Hong Kong Approves Crypto ETFs; Crypto Security, Payments Products Launch - According to recent reports, the Hong Kong Securities and Futures Trading Commission has conditionally approved the launch of the first spot...more

Hong Kong Proposes Regulation of Over-the-Counter Crypto Trading

Latham & Watkins LLP on 2/13/2024

On 8 February 2024, the Financial Services and the Treasury Bureau (FSTB) released a consultation paper on its legislative proposal to introduce a regulatory regime governing over-the-counter (OTC) trading of virtual assets...more

Investigations update: Hong Kong authorities ramp up enforcement in virtual assets and other sectors

A&O Shearman on 1/11/2024

Hong Kong has seen cryptocurrencies grow in popularity, highlighting the need for appropriate licensing regimes (implemented in the form of virtual asset service providers (VASPs)), bolstered by active enforcement actions. ...more

Blockchain Week in Review – April 2017 #2

Perkins Coie on 4/18/2017

Below is a summary of some of the significant legal and regulatory actions that occurred over the past week. This alert is not intended to be a comprehensive list of all such developments, but rather a selection of...more

Bitcoin Exchange Bitfinex Hacked

Robinson+Cole Data Privacy + Security Insider on 8/9/2016

Bitcoin Exchange Bitfinex, based in Hong Kong, was hacked last week, incurring a whopping loss of $65 million. It was shut down last week after 119,756 bitcoins were stolen from users’ accounts....more

Bitcoin – Haven In Hong Kong? - Part Ten

Dorsey & Whitney LLP on 9/4/2014

“Virtual currencies” in general, and bitcoin in particular, continue to attract media attention as well as intense public and regulatory scrutiny. The regulators seem to have realized that the bitcoin genie is out of the...more

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