Hong Kong, one of the most significant and leading financial centers in the world, has played a large role in the development of cryptocurrencies. For instance, the Chinese territory has birthed some of the most established and successful crypto companies to date including the crypto derivatives exchange FTX, along with the digital asset platform Crypto.com. Yet, as trillions of dollars are traded regularly through crypto exchanges founded in Hong Kong, the “Vertical City” also contains an abundance of physical over-the-counter crypto shops as well. Henri Arslanian, PwC crypto lead and former chairman of the Fintech Association of Hong Kong, told …
The growth of the decentralized finance (DeFi) sector has been a recurrent headline throughout 2021 and to date, hundreds of billions of dollars in crypto assets are locked on protocols across numerous blockchain networks and earning a yield for their holders. What started off as a simple Ethereum-based swap interface that allowed ERC-20 tokens to be exchanged in a decentralized manner, called Uniswap, has exploded into a vast ecosystem full of decentralized exchanges, yield farms, lending protocols and staking platforms. As development continues and older protocols become more established, newer projects have emerged to incorporate more pieces from the traditional …
The Belarusian government has proposed to appoint the High Technologies Park Administration as a supervisory authority for local crypto exchanges and digital tokens, First Deputy Prime Minister Nikolai Snopkov announced on Tuesday. “The government has proposed to make the Administration of the Hi-Tech Park a supervisory body for crypto-exchanges and digital tokens. The President supported the government’s idea. I believe that such a decision will be made shortly,” Snopkov said. According to Snopkov, the government is currently trying to choose an appropriate government agency to supervise local crypto platforms in line with pan-European rules. Snopkov said, “It is logical that …
For a country of 25 million people, Australia punches well above its weight both economically and in the world of blockchain. Australians have long been enthusiastic adopters of new technology, from cellphones to smart homes, so it’s little surprise they’ve embraced crypto too. Chainalysis ranks Australia 20th out of 154 countries surveyed this year for its "The 2020 Geography of Cryptocurrency Report," citing favorable regulation that legitimizes the technology as driving "steady growth in adoption." Australian crypto educator Alex Saunders, founder of Nuggets News, said the Australian crypto community encompasses everyone from hardcore Bitcoin (BTC) maximalists to well-known Ethereans and …
The government of El Salvador has reportedly decided to postpone the issue of a Bitcoin (BTC)-backed bond due to the unfavorable market conditions fueled by the geopolitical crisis. El Salvador’s “Volcano Bond” will not go live in March as the Salvadoran government expected previously, finance minister Alejandro Zelaya said in an interview with a local TV channel. Zelaya claimed that the delay was due to the volatile prices of BTC fueled by the Russia-Ukraine crisis. He added that the government of El Salvador decided to wait for favorable conditions in the financial market, expecting September at the latest, stating: “Now …