Chinese Bitcoin Demand Surges Despite Government Ban
Despite China's 2021 cryptocurrency ban, mainland citizens are finding creative ways to quadruple their Bitcoin purchases through thriving OTC markets and gray channels. Hong Kong's emergence as a regulated crypto hub creates an interesting dynamic, though mainland investors remain restricted while Chinese mining equipment manufacturing continues.
Hong Kong Investment Firm Expands Bitcoin Holdings with Strategic $858K Purchase
HK Asia Holdings has bolstered its cryptocurrency portfolio by acquiring 10 additional Bitcoin, bringing total holdings to 18.88 BTC valued at $1.72 million. The company's transparent investment approach has driven significant stock price gains while joining other public firms embracing Bitcoin as a hedge against fiat currency risks.
Hong Kong Opens Immigration Path for Bitcoin and Ethereum Investors
Hong Kong now accepts Bitcoin and Ethereum as valid proof of assets for investment immigration, with at least two successful applicants already approved. The groundbreaking policy requires crypto holdings worth HK$30 million stored in cold wallets or established exchanges.
Hong Kong Construction Giant Makes $47M Strategic Bitcoin Investment
Ming Shing Group, a Hong Kong construction firm, has invested $47 million in Bitcoin through its subsidiary Lead Benefit, purchasing 500 BTC at $94,375 each. This bold move reflects growing cryptocurrency adoption in Hong Kong's traditional business sector, with the company viewing Bitcoin as a liquid asset to support operations.
Asia Dominates Global Crypto Market with China's Surprising Resurgence
Asia commands 60% of global cryptocurrency users, with five Asian nations ranking in the top 10 for crypto adoption. Despite regulatory restrictions, China maintains a vibrant crypto ecosystem through Hong Kong gateways, while Singapore emerges as a regional hub with $1 billion in Q2 transactions.
AI-Powered Romance Scam Ring Uses Deepfakes to Steal Millions in Crypto
Hong Kong authorities have dismantled a criminal operation that used AI deepfakes on dating apps to defraud victims of $4.3 million in cryptocurrency scams. The sophisticated ring created fake romantic relationships before exploiting targets across multiple Asian countries through fraudulent investment platforms.
Asian Banks Face $3M Lawsuit Over Cryptocurrency Investment Scam
A California resident files a $3 million lawsuit against three major Asian banks for allegedly enabling a cryptocurrency investment scam that cost him $1 million. The case highlights growing concerns over financial institutions' role in preventing crypto-related fraud and monitoring suspicious transactions.
Coinbase Faces $1 Billion Lawsuit Over Controversial wBTC Delisting
Cryptocurrency exchange Coinbase faces a massive lawsuit from BiT Global Digital Limited for allegedly delisting wrapped bitcoin to boost its own competing product. The $1 billion legal challenge highlights growing tensions in the tokenized Bitcoin market and raises concerns about exchange practices.
Hong Kong Unveils Landmark Tax Exemption Plan for Institutional Crypto Investors
Hong Kong is preparing to eliminate capital gains tax on cryptocurrency investments for hedge funds, private equity firms, and high-net-worth individuals. The strategic move, planned for 2025 implementation, aims to establish the city as a premier global digital asset hub while competing with other major financial centers.