Floki has formally responded to the Hong Kong SFC’s recent warning, reiterating their commitment to compliance across jurisdictions and explaining the rationale behind their staking program’s high returns. Cryptocurrency Project Floki Counters Hong Kong SFC’s Warning In a detailed blog post dated Jan. 29, Floki, the team behind the dog-themed memecoin, addressed the recent warning […]
A Hong Kong watchdog, the SFC, has cautioned investors about the enticing yet potentially risky ‘Floki Staking Program’ and ‘Tokenfi Staking Program,’ which offer high annualized returns without the required regulatory green light. SFC Warns Against Unregulated Floki and Tokenfi Crypto Staking Programs The Hong Kong Securities and Futures Commission (SFC) has issued a public […]
Hong Kong will now focus on regulating over-the-counter (OTC) cryptocurrency trading, according to local sources. Under Secretary for Financial Services and the Treasury Joseph Chan Ho-lim stated that the government will aim to mitigate the risks of virtual assets amidst the rising interest of mainland investors using the city as a bridge to invest in […]
As Hong Kong strengthens its crypto regulatory framework and embraces ETFs, the Hong Kong Virtual Asset Consortium (HKVAC) has updated its crypto indexes, showing a preference for tokens with market performance and growing industry partnerships. Ripple’s XRP Loses Ground in HVAC’s Crypto Index Revamp The Hong Kong Virtual Asset Consortium has revised its key crypto […]
Hong Kong Monetary Authority (HKMA) and Financial Services and the Treasury Bureau have released a public consultation paper to gather residents’ opinions on the proposed regulatory regime for stablecoin issuers. The HKMA also announced the introduction of a sandbox arrangement whose purpose will be to convey supervisory expectations and guidance on compliance to prospective stablecoin […]