Crypto exchange operator HashKey Holdings has launched its share sale in Hong Kong, testing investor appetite amid repeated warnings against virtual currencies by China's central bank. Hong Kong's largest licensed crypto player set its initial public offering (IPO) price range at HK$5.95 to HK$6.95 apiece for more than 240 million shares, according to a filing on Tuesday. The listing date is December 17. With the price range, HashKey is eyeing up to HK$1.67 billion (US$214 million). In October, the firm ...

Regulatory Landscape - South Korean government and National Assembly are progressing with the second phase of digital asset legislation, known as the "Digital Asset Basic Act" [1] - The proposed legislation restricts stablecoin issuers to consortiums where banks hold at least 51% of the shares [1] - The Digital Asset Special Task Force (TF) within the Democratic Party has largely confirmed this proposal [1]

Group 1 - HashKey Holdings, the parent company of the licensed virtual asset trading platform HashKey Exchange, is undergoing a listing hearing on the Hong Kong Stock Exchange [1] - The company plans to raise $500 million and aims to go public this month [1] - HashKey reported a loss of HKD 1.19 billion last year, with an adjusted loss of HKD 545 million [1] Group 2 - For the first half of the year ending June, HashKey incurred a loss of HKD 507 million, with an adjusted loss of HKD 452 million [1]

Financial Loss & Frozen Funds - Upbit's Solana-related loss has been revised to 445 亿 KRW (approximately $3043万)[1] - Solana funds frozen amount to approximately 23 亿 KRW (approximately $157万)[1] Regulatory Oversight - South Korea's Financial Supervisory Service, through its Virtual Asset Supervision Bureau, has initiated an immediate on-site inspection of Upbit, expected to last until next Friday [1]

BREAKING: 🇰🇪 Kenya officially signs the “Virtual Asset Service Providers Bill” into law.Africa is embracing crypto 🚀 https://t.co/06JjjUSAqv ...

BREAKING:🇺🇸 3.4 billion users Mastercard files trademark to launch “Virtual Asset Payments.”Bullish 🚀 https://t.co/lwRflFLFsp ...

🇦🇪 TODAY: Bybit Snags UAE’s Virtual Asset Platform Operator License@IanAllison123 reportshttps://t.co/a5Cbvg8iAg ...

Bybit has obtained a Virtual Asset Platform Operator license from the UAE Securities and Commodities Authority (SCA), becoming the first crypto exchange to receive this approval. The license allows Bybit to offer regulated virtual asset trading, brokerage, custody, and fiat conversion services to both retail and institutional clients in the UAE. https://t.co/i5xEkVgI7K ...

Bybit Secures UAE’s First Virtual Asset Platform Operator License from Securities and Commodities AuthorityBen Zhou, Co-founder and CEO of Bybit, said: “Receiving the full Virtual Asset Platform Operator License from the SCA is a testament to Bybit’s unwavering commitment to building trust through compliance and transparency. The UAE has emerged as a global leader in digital asset regulation, and this recognition underscores the strength of our security and governance standards.The exchange plans to expand ...

Regulatory Updates - Hong Kong SFC issued new guidance to strengthen virtual asset trading platforms' custody standards [1] - The guidance addresses global security incidents and gaps found in a recent review [1] - The circular outlines minimum requirements for wallet infrastructure, access controls, and management oversight [1] - These requirements form part of the SFC's ASPIRe roadmap [1]