Hong Kong attracts 210 crypto companies despite its very annoying new travel rule, $1.1B of 3AC’s assets frozen, and more in Asia Express.
Our weekly roundup of news from East Asia curates the industrys most important developments.
A new set of rules governing inter-exchange deposits and withdrawals will take effect in Hong Kong on New Year’s Eve, making life a little more difficult for local crypto users.
As an example, deposits to crypto exchange Hashkey of HKD $8,000 or more ($1,000) will now be only credited if they originated from Binance (but not Binance.US.) The exchange said:
“Clients with the same name account undergo an expedited verification process, and no verification documents are required. Deposits from other exchanges is currently not supported. We will be gradually expanding the list of supported exchanges on our platform.”
Read more
Source: https://cointelegraph.com/magazine/hong-kong-travel-rule-3ac-assets-frozen-asia-express/