Crypto firms jockey for Hong Kong licenses ahead of June 1 retail opening

The issue of Shariah acceptability of crypto is a matter of time and raising awareness, according to an Islamic finance expert based in Malaysia.Skepticism of crypto stems from uncertaintySuhaida Mahpot, CEO of major Shariah advisory firm Amanie Advisors, suggested that the existing skepticism towards crypto in Islamic countries is not a pure rejection, but rather…

The country’s financial secretary says state funding and support have helped draw Web3 innovators to the digital hub. 72 Total views 1 Total shares In the past year, more than 150 Web3 firms have set up operations in Hong Kong’s Cyberport — a digital hub set up by the country’s government to promote innovation —…

The global payments platform wants to let British customers trade crypto on its new “super app”. 538 Total views 524 Total shares Global payments platform PayPal is looking towards the United Kingdom as the next market in which to expand its crypto trading services.According to the company’s second-quarter earnings call on Wednesday, PayPal has done…

Bitcoin’s technical setup and onchain data hint at a short upside recovery in the making.

Blockchain company Algorand has raised over $60 million in a token sale on financial services platform CoinList, technology-focused news outlet The Block reported on June 19.The Algorand Foundation — a firm that implements an open source public ledger and cryptocurrency payment system utilizing the Byzantine Agreement message-passing protocol — has reportedly raised $60 million in…

The Malta Financial Services Authority (MFSA) has issued a warning against an alleged global scam scheme known as “Bitcoin Revolution,” according to an official document published today, Jan. 25.According to the Maltese regulator, the alleged crypto scam represents a typical get-rich-quick scheme, and operates through the website the-bitcoinrevolution.org and several other unnamed websites.The fraudulent entity…

Within 11 days in March, four banks in the United States and one in Switzerland collapsed. First Republic Bank followed in May. Three of the four largest-ever U.S. bank failures occurred in those two months. It was a painful reminder that banks bear significant risks that can quickly spill over to other industries.Ironically, despite a…

In July, cryptocurrency hardware wallet manufacturer Bitfi’s executive chairman, John McAfee, claimed that Bitfi was “the world’s first unhackable device,” urging security experts to breach its security for a $100,000 bounty. Since then, a number of reports emerged that suggested Bitfi is not, in fact, “unhackable,” only to be dismissed by the wallet service as…