Our weekly roundup of news from East Asia curates the industry’s most important developments.
Hashkey Exchange — one of the first regulated crypto exchanges in Hong Kong — has announced insurance coverage for clients assets stored in its hot and cold wallets. The policy will cover 50% of Hashkey’s digital assets in cold wallets and 100% of digital assets in hot wallets, paying out from $50 million to $400 million in the event of a claim.
Wang also disclosed that the exchange plans to submit four major altcoins for listing approval to the Hong Kong Securities & Futures Commission.
BC Technology Group, the owner of another licensed exchange, OSL, has announced a $91 million strategic investment from BGX crypto group.
Crypto media publication The Block has received a $60 million investment for 80% of its equity from Singaporean venture capital firm Foresight Ventures.
A third Chinese court has voided a crypto investment contract on the basis that cryptocurrencies contravene the spirit of its crypto ban and, therefore, are not protected by law, at least in civil disputes.
The Philippines’ Bureau of Treasury (BTr) is seeking to raise the equivalent of $180 million from its domestic capital market through the issuance of tokenized bonds.
• Zhiyuan Sun is a journalist at coinpostman focusing on technology-related news. He has several years of experience writing for major financial media outlets such as The Motley Fool, Nasdaq.com, and Seeking Alpha.
