Features Crypto News by Thebittimes.Com

Spot Bitcoin ETF fever spread outside the U.S., with Hong Kong regulators open to the product and local firms racing to become the first movers on the scene.  Value Partners Group and Venture Smart Financial Holdings (VSFG), two Hong Kong-based asset s managers , reached a memorandum of understanding to collaborate on offering traditional investment vehicles underpinned by digital asset s to local retail and institutional investors. Top of the list for both firms is the possible introduction of ETFs that track spot Bitcoin (BTC) ETFs, per a statement shared with crypto.news.  Value Partners CEO June Wong said the asset managers hope to capitalize on Hong Kong’s crypto-friendly regulatory approach, drawing on a combined experience and expertise spanning decades to provide transparent and liquid access to Bitcoin as an asset class. The pair also plan to capture first-mover advantages in what Lawrence Chu, Chairman at VSFG, described as a rapid financial evolution in Hong Kong and...

The operator of two licensed Hong Kong-based crypto exchanges, HashKey Group, has raised 100 million with a valuation of over $1 billion. In a press release on Jan. 16, the Hong Kong-headquartered crypto management company said it has secured nearly $100 million in a Series A financing round at a pre-money valuation above $1.2 billion. The company did not disclose its investors, but noted that in addition to existing shareholders, this financing round attracted new investors, including “prominent institutional investors.” BIG NEWS! We are proud to announce the completion of a Series A financing round of nearly US $100 million at a pre-money valuation above US $1.2 billion. The newly raised capital will be used to : ️Solidify HashKey's #Web3 ecosystem ️Accelerate the product… pic.twitter.com/EgpWA04SRN — HashKey Group (@HashKeyGroup) January 16, 2024 You might also like: Nearly 10 hedge funds are set to launch spot crypto ETFs in Hong Kong, HashKey says...

HKVAEX and VAEXC are different crypto platforms in Hong Kong and have nothing to do with each other, a HKVAEX representative said. Hong Kong cryptocurrency exchange HKVAEX has not applied for a virtual asset trading platform license with Hong Kong’s Securities and Futures Commission (SFC), a spokesperson for HKVAEX has said. Amid multiple reports erroneously suggesting that HKVAEX has applied for an SFC license , the HKVAEX representative claimed the crypto exchange is yet to submit an application. “We are still preparing for the application at the moment,” the HKVAEX representative told Cointelegraph on Nov. 27. The spokesperson stressed that HKVAEX should not be confused with VAEXC, which applied for a crypto license in Hong Kong on Oct. 25, according to SFC data. “VAEXC is another applicant, and they have nothing to do with us,” the HKVAEX representative said, adding that the firm is unrelated to HKVAEX. Hong Kong VAEXC license application. Source: SFC The news came a few weeks a...

China is warning telecom companies that are based overseas not to wield “new technologies” — digital assets, blockchain , artificial intelligence (AI) and the metaverse — for nefarious purposes. According to Global Times, citing a statement from the Chinese Central Political and Legal Committee, “entities operating from outside China have been using deceptive tactics such as posing as lucrative job opportunities to recruit unsuspecting victims.” “From the perspective of fraud methods, fraud groups use blockchain , metaverse, virtual currency, AI intelligence and other new technologies and new formats to continuously update criminal tools, which are more concealed and confusing,” the committee stated. “This requires the public security, finance, telecom munications, Internet and other departments to work together, apply advanced technical means, and fulfill the responsibility of the main body of supervision.” You might also like:...

On Wednesday, Switzerland -based SEBA Bank revealed the opening of a new Hong Kong office to serve global institutional clients. The said initiative is a part of the Crypto Bank ’s Asia-Pacific expansion. THE APAC region is currently an emerging market for cryptos. Hong Kong, as such, has a supportive crypto licensing framework that provides a “valuable base” to tap into the growing demand. Thus, it would help the bank encash the “business potential” in the region. As such, SEBA Hong Kong’s initial activities will focus on consultancy services and market research, as well as engaging strategic partners for its head office in Switzerland. Ludovic Shum, Managing Director at Seba Hong Kong, will oversee the new office. According to the executive’s LinkedIn profile, he previously worked for HSBC, Merrill Lynch, Credit Suisse, and Hong Kong’s financial regulator—The Securities and Futures Commission [SFC]. Why Hong Kong? Commenting on th...