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Hong Kong to enhance digital asset regulation in 18 months

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The Hong Kong government has announced plans to significantly enhance its regulatory framework for digital assets over the next 18 months. This move aims to bolster investor protection, ensure market integrity, and position Hong Kong as a leading hub for cryptocurrency and blockchain innovation.

The new regulatory measures will focus on expanding oversight of digital asset trading platforms, enhancing compliance requirements, and implementing stricter anti-money laundering (AML) protocols. The government has outlined a comprehensive strategy to address emerging risks in the rapidly evolving digital asset space and to foster a more secure and transparent market environment.

Key aspects of the upcoming regulations include:

1. Enhanced Oversight: The Securities and Futures Commission (SFC) will extend its jurisdiction to cover more types of digital asset activities, including unregulated exchanges and trading platforms.

2. Stricter Compliance: Digital asset service providers will face increased regulatory scrutiny, with new compliance obligations aimed at preventing fraud and protecting investors.

3. AML Measures: The regulations will introduce more robust anti-money laundering measures to combat illicit activities and ensure that digital asset transactions adhere to global financial standards.

4. Innovation Support: While tightening regulations, Hong Kong also plans to support innovation in the blockchain space, encouraging the development of new technologies while safeguarding against potential risks.

The initiative reflects Hong Kong’s commitment to maintaining its competitive edge in the global financial landscape while addressing the challenges posed by the growing digital asset sector. The regulatory overhaul is expected to enhance market stability and attract more institutional investors to the region.

Industry stakeholders have welcomed the move, noting that clearer and more comprehensive regulations could help mitigate risks and provide a solid foundation for sustainable growth in the digital asset market. However, there are concerns about the potential impact on smaller firms and startups operating in the space.

As the regulatory framework takes shape over the coming months, stakeholders will be closely monitoring its implementation and impact on the broader digital asset ecosystem.

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Bitcoin price risks drop to $71K as Trump tariffs hurt US business outlook

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Bitcoin is setting its sights on the $71,000 mark as market conditions shift in response to geopolitical and economic developments, including a new tariff agreement and weakening U.S. business sentiment.

Recent market activity suggests that Bitcoin is benefiting from concerns over traditional economic indicators, with investors turning to digital assets as a hedge against economic uncertainty. A rare slump in U.S. business outlook has fueled speculation that risk assets, including Bitcoin, could see increased inflows.

Additionally, ongoing global trade negotiations and tariff adjustments have contributed to market volatility, prompting investors to seek alternative stores of value. Analysts suggest that if macroeconomic pressures persist, Bitcoin could continue its upward trajectory, potentially testing the $71,000 resistance level.

Despite short-term fluctuations, Bitcoin remains a focal point for investors navigating inflation concerns, regulatory shifts, and global economic trends. The coming weeks will be critical in determining whether Bitcoin can sustain its momentum and break through key price barriers.

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Crypto donations top $1B in 2024, gain traction after Myanmar, Thailand quake

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Changpeng “CZ” Zhao, the former CEO of Binance, has donated 1,000 BNB to aid relief efforts following a powerful earthquake that struck the Thailand-Myanmar border region. The donation, valued at approximately $600,000, aims to support those affected by the disaster and assist in recovery operations.

The earthquake caused significant damage in several areas, displacing residents and impacting local infrastructure. CZ’s contribution highlights the growing role of cryptocurrency in humanitarian aid, providing fast and transparent relief funding.

The donation will be distributed to organizations working on the ground to deliver emergency assistance, including shelter, food, and medical supplies. Crypto-based aid is increasingly being utilized in disaster response efforts due to its efficiency in reaching affected communities without the delays of traditional banking systems.

As the affected regions begin the recovery process, the crypto community continues to demonstrate how blockchain technology can play a meaningful role in global humanitarian initiatives.

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Hackers are selling counterfeit phones with crypto-stealing malware

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Security researchers have uncovered a wave of counterfeit Android devices preloaded with malware designed to steal cryptocurrency, posing a significant threat to users worldwide. The infected devices, which mimic popular smartphone brands, contain malicious software capable of hijacking digital wallets and siphoning funds.

The malware, embedded at the firmware level, allows attackers to gain remote access, intercept sensitive data, and execute unauthorized transactions. Because the malicious code is deeply integrated into the device’s operating system, it is difficult to detect and remove, making it a persistent threat.

Cybersecurity experts warn that unsuspecting buyers may unknowingly expose their crypto holdings to risk by purchasing these compromised devices from unverified sellers. Users are urged to exercise caution by only purchasing smartphones from trusted retailers and manufacturers.

The discovery highlights the growing sophistication of cybercriminals targeting the cryptocurrency sector. As mobile-based crypto transactions become more common, security measures such as hardware wallet usage and multi-factor authentication are increasingly essential to safeguard digital assets from emerging threats.

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