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| Metf crypto | In Hong Kong, the Government has announced that a virtual asset service provider VASP licensing regime would be implemented for crypto-asset activities conducted on exchanges by amending the Anti-Money Laundering and Counter-Terrorist Financing Ordinance. Personal Finance Show more Personal Finance. As observed in the market, payment-related stablecoins and their wallets may perform functions similar to those of stored value facilities. There is a clear need to promote investor education and enhance product disclosures on this front. The financial landscape is evolving rapidly around the world, alongside technological innovation. Hong Kong-based cash-for-crypto shop Genesis Block , which was part-owned by FTX offshoot Alameda Ventures, last month shut down its trading portal and stopped accepting deposits. This is because with their nature and intended usage for payment, this type of stablecoins will likely have relatively broad and frequent interconnection with the mainstream financial system and day-to-day commercial, financial and economic activities. |
| Will crypto be the new currency | Among others and as a member jurisdiction of the FSB, we are expected to have a plan in establishing a new, or adjusting the existing, regulatory framework, in line with FSB recommendations by July Hong Kong-based cash-for-crypto shop Genesis Block , which was part-owned by FTX offshoot Alameda Ventures, last month shut down its trading portal and stopped accepting deposits. Stablecoins Stablecoins, as a subset of crypto-assets, are gaining market traction in recent years. Bybit stands out as the best platform for Hong Kong due to its extensive selection of over digital assets, fast HKD deposits, user-friendly interface, and robust compliance with local regulations. They are sometimes referred to as virtual assets, and some critics already cast doubt on whether they should be labelled as assets since some of them actually do not have intrinsic value. Bybit facilitates easy HKD deposits and ensures strong security, making it a reliable choice. |
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