Central banks are increasingly looking towards more efficient payment methods and crypto tokens are filling that role. Thailand and Hong Kong have just announced a joint agreement to utilize digital currencies to facilitate quicker payment in bilateral trade. Cross Border Crypto Central banks are beginning to realize that the options Read more…
Dow bulls basked in positive risk sentiment to start the trading week. Hong Kong elections and a key China concession in the trade war helped lift the US stock market. Apple (AAPL) stock dragged the Dow Jones back towards record highs with a 1.3% gain. The Dow Jones gained nearly Read more…
Hong Kong marble stock ArtGo plunged 98% in a day earlier this week, wiping out $5.7 billion. It’s the latest in a string of massive Asian stock bubbles including Kasen International and Tibet Water. Recent trading bubbles makes bitcoin’s ‘bubble’ look practically placid. One of the world’s best-performing stocks just Read more…
Trump will likely sign a bill supporting Hong Kong protests, according to reports. The bill has been vehemently condemned by China. Stocks took a hit as hopes of a U.S.-China trade deal by 2020 are squashed. President Donald Trump is expected to sign legislation supporting protesters in Hong Kong, according Read more…
Hong Kong protests are escalating, which has pushed U.S. lawmakers to ‘hotline’ the Hong Kong Human Rights and Democracy Act. Trump is unlikely to block the bipartisan bill, which could anger Beijing and stall trade talks. While further tension between the U.S. and China isn’t in either nation’s best interest, Read more…
US stocks are under pressure, with the US Senate poised to pass a bill supporting Hong Kong that may destroy Trump’s hopes of a phase one trade deal. The Dow made no progress as a huge sell-off in Cisco undid a decent rally in Boeing stock. Weakening Chinese data suggest Read more…
Dow Jones Industrial Average (DJIA) futures crashed more than 100 points overnight. Hong Kong turns violent as one police officer opens fire on protestors and one man set on fire. Asian stock markets rattled, sending ripple effect into US stock futures. Dow Jones Industrial Average (DJIA) futures tumbled in early Read more…
Chinese internet giant Tencent is set to open a blockchain-based virtual bank after the Hong Kong Securities and Futures Commission (SFC) approved a new license. Speaking at the World Blockchain Summit in Wuzhen, China on Friday, Tencent blockchain chief Yige Cai said the company’s virtual bank received the SFC’s green-light. Moving Read more…
The Securities and Futures Commission (SFC) of Hong Kong has just issued a warning about high leverage crypto futures contracts. The regulator considers such products to be too high risk for the average investor and, as such, says it is unlikely to ever licence a business offering them. The news Read more…
Hong Kong’s securities watchdog is to treat cryptocurrency trading platforms like traditional brokers if they offer security tokens, according to its second round of regulatory guidance for the industry. The Securities and Futures Commission (SFC) released its position paper on virtual asset exchanges Wednesday, announcing a new licensing scheme that it Read more…
North Korea has been using a Hong Kong-based blockchain company to launder money, according to a quarterly report from the UN Security Council’s Sanctions Committee on North Korea. As reported by South Korean newspaper Chosun, North Korea employed a shipping and logistics firm called Marine China, which runs on a blockchain Read more…
Blizzard appears to have been caught lying about the Hearthstone controversy that has embroiled the company in recent months. After President J. Allen Brack “apologized” at the start of BlizzCon 2019, the company claimed employees were free to weigh in on Hong Kong on social media – just not game Read more…
Nothing drives up demand for Bitcoin more than economic and political uncertainty. Well maybe a large dose of China initiated FOMO, but fundamentally BTC acts as a solid hedge against failing fiat and economic policy. This year has not been one to remember for a number of nations, and that Read more…
The NBA probably wants nothing more than for the whole mess with China about Daryl Morey’s pro-Hong Kong tweet to just go away. But thanks to how the league initially reacted, that isn’t going to happen anytime soon. Protesters have been showing up to preseason games, and the media can’t Read more…
When bitcoin advocates claim adoption is surging in developing countries, particularly during periods of political unrest or economic turmoil, their go-to source for evidence is often LocalBitcoins. The peer-to-peer exchange, which matches buyers and sellers of the largest cryptocurrency in nearly 250 countries, publishes weekly volume data for each nation Read more…
Typically, when fans and social media are being highly critical of a professional sports league, at the center of the discussion is usually the NFL. But not this time. This time, the recipient of all the backlash is the socially aware NBA. It appears that a league that has prided Read more…
Hong Kong’s Securities and Futures Commission (SFC) has issued regulations for fund managers investing in “virtual assets.” In an Oct. 4 announcement, the financial market watchdog formalized a framework put out in November last year that was aimed to regulate funds that allocate more than 10 percent of their portfolio in Read more…
Protesters are finding innovative ways to circumvent the oppressive anti-mask ban which came into effect in Hong Kong on Friday. The emergency law is unprecedented in the city’s China-led history as chief executive Carrie Lam looks for every available tool to quell the unrest. Locals are gathering on social media Read more…
Escalating political tensions in Hong Kong and a potential economic and banking crisis in India has highlighted how fragile cash savings can be. Naturally Bitcoin would be the answer if adoption was greater and volatility was lower but the pluses for decentralized money are growing. Hong Kong ATMs Empty As Read more…
This essay is presented as a part of No Closing Bell, a series leading up to Invest: Asia 2019 focused on how the Asian crypto markets are interacting with and impacting global investors. To keep the conversation going in person, register for Invest: Asia 2019 coming up in Singapore on Sept. 11-12. Read more…
The Tesla Model 3 officially landed in Hong Kong. But the tone-deaf timing of the roll-out ignited backlash, since HK is being roiled by protests. | Source: (i) Tesla Twitter Account (ii) Reuters; Edited by CCN Tesla proudly touted the release of its Model 3 in Hong Kong. However, the Read more…
The Dow whipped back into recovery mode on Wednesday, even as the Federal Reserve descends into civil war over interest rate policy. | Source: REUTERS / Carlos Barria The Dow soared toward a blockbuster recovery on Wednesday after positive developments in Hong Kong removed one potential complication from the trade Read more…
In a move to appease protesters, Hong Kong is reportedly set to formally withdraw the China Extraditions Bill. Hong Kong shares spiked after the news. | Source: Photo by Lillian SUWANRUMPHA / AFP Dow Jones Industrial Average (DJIA) futures climbed 200 points higher in early trading Wednesday. Optimism returned to Read more…
Political unrest usually leads to economic uncertainty, which can drive investors into alternative assets or safer havens overseas. Protests in Hong Kong have garnered global attention as mainland oppression has resulted in millions taking to the streets. Some retail outlets have begun accepting crypto in preparation of further financial uncertainty. Read more…
Anti-government demonstrations entered their eleventh week with a defiant march in Hong Kong’s Central district on Sunday. The threat of violence and civil unrest has led to increasing uncertainty over the city’s future. And anxious residents are responding by moving money out of Hong Kong, a move that could increase Read more…
The Dow Jones resurgence stagnated on Tuesday after Beijing sniped at President Trump for linking the Hong Kong protests with the trade war. | Source: REUTERS / Lucas Jackson By CCN Markets: The Dow’s three-day recovery ran smack into a wall on Tuesday, as the stock market struggled to complete Read more…
Crypto-fever dreamers cheered as Hong Kong protesters suggested organizing a bank run, but apparently rioters didn’t flock to bitcoin. | Source: Shutterstock By CCN Markets: There’s nothing like a bank run to bring out the bitcoin-fever dreamers. Hong Kong protesters reportedly tried the tactic in their latest effort to stop Read more…
Bitcoin is hoping to become a hot property in Hong Kong. The region’s political crisis has swept over its banking sector, which is now seeing protestors withdrawing large bundles of cash out of ATMs. The move is the latest tactic to reduce People’s Bank of China’s influence on the Hong Read more…
Protesters in Hong Kong have reportedly taken over at least one government building, with tensions escalating over the weekend and preventing the local stock market from taking part in an otherwise-global rally. Tensions Escalate as Hong Kong Stock Market Tanks The protesters took over the legislature building, and police are Read more…
Published: 17/06/2019 11:28 EST. Journalist: By CCN Markets: Bitcoin has already come of age as a safe haven currency, a market analyst has pronounced. According to eToro’s senior market analyst Mati Greenspan, the cryptocurrency is trading at a premium of over $100 in Hong Kong on the TideBit exchange. Heavy Read more…
