Hong Kong's annoying new 'travel rule' and $1.14 billion in 3AC assets frozen: Asia Express
OUR weekly summary of news Since East Asia curators THE industry most important developments.
Journey ruler has take effect In Hong Kong departure January 1, 2024A new together of rules governing inter-exchange deposits And withdrawals will take effect In Hong Kong on New Years Day before, manufacturing life A little more difficult For local crypto users.
As A example, deposits has crypto exchange Sharp touch of CHF $8,000 Or more ($1,000) will NOW be only credited if they originating Since Binance (but not Binance.US.) THE exchange said:
“Customers with THE even name account undergo A accelerated verification process, And No verification documents are required. Deposits Since other Exchanges East Currently not supported. We will be gradually expansion THE list of supported Exchanges on OUR platform. »
Exchange deposits below that limit will be supported Since 24 entities, but even SO users must supplier KYC information And screenshot of their accounts on other Exchanges. THE vice versa applies has inter-exchange withdrawals originating Since Sharp touch. In A little glow of light, THE Journey Ruler only applies has third party Exchanges And do not affect self-guard wallets.
THE exchange warned that if user information doesn't match For deposits Or withdrawals, THE transaction will be reversed And users will need has pay THE transaction fresh.
HAS THE inaugural Hong Kong the Web 3.0 Summit on December 21, Paul Chan Mopo, THE financial secretary of Hong Kong, that 210 Web3 companies are NOW domiciled there due has It is Chan rented blockchain technology as solve "old problems" And "new difficulties. »
"As long as We can provide effective, fast, cheap And reliable business Or transaction models, continuously And widely solve pain points And create value, THE real needs of THE walk will become THE conduct force For everyone success. »
Despite THE optimism, Chan warned about THE “overflow impact" of THE collapse of off the coast cryptocurrency Exchanges And of "local fraud case. » He can to have has been referent has THE collapse of THE not registered JPEX And which directed has investor losses of .
"Risks must be identified And eliminated more proactively,” said Chan. "In addition, he East Also necessary has to strenghten investor education In A all around way. »
In January, Hong Kong , “Cyberport” as A means of attract Web3 Talent And entities. THE Hong Kong government has assigned 500 million Hong Kong dollars ($64 million) For The Cyberport inaugural "Digital Transformation Support Pilot Program," A initiative aiming has portion little And medium sized companies has implement digital solutions.
OUR weekly summary of news Since East Asia curators THE industry most important developments.
Journey ruler has take effect In Hong Kong departure January 1, 2024A new together of rules governing inter-exchange deposits And withdrawals will take effect In Hong Kong on New Years Day before, manufacturing life A little more difficult For local crypto users.
As A example, deposits has crypto exchange Sharp touch of CHF $8,000 Or more ($1,000) will NOW be only credited if they originating Since Binance (but not Binance.US.) THE exchange said:
“Customers with THE even name account undergo A accelerated verification process, And No verification documents are required. Deposits Since other Exchanges East Currently not supported. We will be gradually expansion THE list of supported Exchanges on OUR platform. »
Exchange deposits below that limit will be supported Since 24 entities, but even SO users must supplier KYC information And screenshot of their accounts on other Exchanges. THE vice versa applies has inter-exchange withdrawals originating Since Sharp touch. In A little glow of light, THE Journey Ruler only applies has third party Exchanges And do not affect self-guard wallets.
THE exchange warned that if user information doesn't match For deposits Or withdrawals, THE transaction will be reversed And users will need has pay THE transaction fresh.
HAS THE inaugural Hong Kong the Web 3.0 Summit on December 21, Paul Chan Mopo, THE financial secretary of Hong Kong, that 210 Web3 companies are NOW domiciled there due has It is Chan rented blockchain technology as solve "old problems" And "new difficulties. »
"As long as We can provide effective, fast, cheap And reliable business Or transaction models, continuously And widely solve pain points And create value, THE real needs of THE walk will become THE conduct force For everyone success. »
Despite THE optimism, Chan warned about THE “overflow impact" of THE collapse of off the coast cryptocurrency Exchanges And of "local fraud case. » He can to have has been referent has THE collapse of THE not registered JPEX And which directed has investor losses of .
"Risks must be identified And eliminated more proactively,” said Chan. "In addition, he East Also necessary has to strenghten investor education In A all around way. »
In January, Hong Kong , “Cyberport” as A means of attract Web3 Talent And entities. THE Hong Kong government has assigned 500 million Hong Kong dollars ($64 million) For The Cyberport inaugural "Digital Transformation Support Pilot Program," A initiative aiming has portion little And medium sized companies has implement digital solutions.
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