Hong Kong crypto hub takes shape with approvals, hiring (2024)

FAQs

Is crypto hub legit? ›

Crypto-Hub is not a trusted broker because it is not regulated by a financial authority with strict standards. We would not open an account for ourselves with them. If you want to stay safe, only sign up with brokers that are overseen by a top-tier and stringent regulator.

Hong Kong's approval of Ethereum ETFs reflects the city's commitment to lead global cryptocurrency trading, especially in light of expectations for the U.S. Securities and Exchange Commission (SEC) to reject a similar ETF.

Hong Kong has become the latest country to approve spot exchange-traded funds (ETF) for Bitcoin BTC $62,991 and Ether ETH $3,078 , with local regulators issuing approvals to at least three local issuers.

Hash Blockchain Limited, operating as HashKey Exchange, was granted a license by the SFC in Hong Kong on 9 November 2022 to operate a virtual asset trading platform (VATP). This licence enables HashKey Exchange to offer regulated digital asset trading services to institutional and professional investors in Hong Kong.

Signs of crypto scams include poorly written white papers, excessive marketing pushes, and get-rich-quick claims. Regulatory agencies, such as your state's consumer protection office or the Consumer Protection Bureau, are the best places to contact if you suspect you've been the victim of a scam.

The Hong Kong Securities and Futures Commission has granted initial approval to 11 cryptocurrency exchanges to continue operating in the city, in the first step towards granting the first virtual asset trading platform (VATP) licences since 2022.

HKEX operates securities and derivatives markets that are open and free and welcomes the participation of investors from all over the world. However, overseas investors should comply with regulations governing overseas trading in their own countries or places of residence before trading in Hong Kong.

Currently, there is no specific legislative framework in Hong Kong which regulates crypto-assets and therefore no single regulatory body governs such crypto-assets.

What is the best Hong Kong ETF? ›

Investment asset manager BOCI-Prudential and crypto exchange OSL will serve as the custodians for the ETFs.

Hong Kong's ZA Bank starts offering crypto-fiat conversion services: Bloomberg. ZA Bank, the largest online-only bank in Hong Kong, has started offering cryptocurrency conversion services through licensed crypto exchanges, according to a Bloomberg report on Wednesday.

Several countries have no crypto tax, allowing individuals to buy, mine, and trade crypto without tax implications. Some notable examples include Belarus, Bermuda, Cayman Islands, El Salvador, Georgia, Germany, Hong Kong, Malaysia, Malta, Puerto Rico, Singapore, Slovenia, Switzerland, and the United Arab Emirates.

CryptoHub offers a variety of high-quality, one-of-kind crypto trading tools and innovations to improve the average crypto trader's experience and safety when trading crypto.

Fake crypto sites often operate in one of two ways: As phishing pages: All the details you enter, such as your crypto wallet's password and recovery phrase and other financial information, end up in the scammers' hands. As straightforward theft: Initially, the site may allow you to withdraw a small amount of money.

CoinHub is mobile-friendly, so your data is always safe. We are committed to protecting your information. We store your portfolio data on device and don't send it out to a server.