$15 Million Crypto Laundering Ring Crushed In Hong Kong’s Latest Financial Sting
Hong Kong police have broken up a money‑laundering ring that moved 15 million through more than 550 accounts and crypto trades. Twelve suspects, aged 20 to 40, were arrested in operations across mainland China and Hong Kong. They now face charges of conspiracy to commit money laundering, Hong Kong Commercial Daily reported on May 17. Related Reading: […]
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Authorities in Hong Kong have arrested four people suspected of money laundering a total of $155 million through cryptocurrency wallets and bank accounts. The city’s customs agency said this was its first case in which virtual money had been used to launder dirty cash. Money Laundering Syndicate Recycles $155 Million in Crypto and Fiat Transactions The criminal group is believed to have processed illegal funds for a total of 1.2 billion Hong Kong dollars ($155 million), Hong Kong Customs announced Thursday. In an operation code-named “Coin Breaker,” officers detained the....
Hong Kong’s plan to restrict cryptocurrency investment to professionals means retail investors could move to unlicensed venues, said Global Digital Finance.
Hong Kong’s Treasury Secretary says the government is right to pursue restrictive crypto regulations in the city. Christopher Hui, Hong Kong’s Secretary for Financial Services and the Treasury has defended the recent proposal by the city’s Financial Services and the Treasury Bureau to ban retail crypto trading.In a speech delivered at StartmeupHK virtual fintech summit on Thursday, Hui said that the proposal was in line with the government’s plan to properly police the emerging crypto market.As previously reported by Cointelegraph, the FSTB issued a proposal after months of consultation,....
Hong Kong’s Securities and Futures Commission (SFC) has issued guidelines to allow crypto platforms and funds in the jurisdiction to offer staking services. The new rules are part of the regulator’s roadmap to develop Hong Kong’s digital assets ecosystem. Related Reading: Conor McGregor’s Memecoin Taps Out—Failed Launch Sparks Refund Pledge Hong Kong Allows Crypto Staking […]
Hong Kong’s top banking regulator, the Hong Kong Monetary Authority (HKMA), unveiled two FinTech initiatives today. The announcement was made at the Hong Kong’s annual Treasury Markets Association gathering by HKMA chief executive, Norman Chan. Hong Kong’s FinTech Market Is Bitcoin Focused. While the announced initiatives are not specifically for Bitcoin....