OSL contributed 70 percent of the group’s total revenue.
The funds will invest 100 percent in cryptocurrencies.
The ban might drive traders to unregulated trading platforms.
Hong Kong, China has approved an Exchange Traded Fund (ETF) worth $100 million that would also include 10% in cryptocurrency. The ETF would be raised by Yibo Financial as per a report from Wu Blockchain. Hong Kong, China has approved the first ETF fund involving cryptocurrency, and Yibo Financial said it will raise 100 million The post Crypto News: HongKong Approves First Crypto...
The stock price of the company tumbled by over 14 percent on Wednesday.
The government’s plan to regulate cryptocurrency exchanges in Hong Kong could mean ATMs may also be off-limits, the group claims.
The founder is under police custody for the last 15 days.
The financials of the acquisition deal were not disclosed by the companies.
BitGo’s status as a qualified custodian should draw more high-net-worth investors to Amber from places like Hong Kong, Taiwan and Seoul.
The bank’s first cross-blockchain platform pilot transaction was executed between Hong Kong and Mainland China.
The watchdog introduced a crypto regulatory framework last year.
Regulators in Hong Kong have stated that all crypto trading exchanges and companies need to be regulated regardless of whether they’re selling securities or not. China is also being heavy handed with crypto as its CBDC...
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