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Lack of Civil Protection for Cryptocurrency in China; Listing Coins in Hong Kong Costs $300K

Lack of Civil Protection for Cryptocurrency in China; Listing Coins in Hong Kong Costs $300K

– Hong Kong-based crypto exchange Hashkey has announced insurance coverage for clients’ assets stored in its hot and cold wallets. The policy will cover 50% of assets in cold wallets and 100% of assets in hot wallets, with a potential payout of $50 million to $400 million in the event of a claim.

– Hashkey has also partnered with fintech OneDegree to develop crypto security solutions for server downtime, data backup, and load control.

– The exchange plans to submit four major altcoins for listing approval to the Hong Kong Securities & Futures Commission.

– BC Technology Group, the owner of licensed exchange OSL, has received a $91 million strategic investment from BGX crypto group.

– Hong Kong exchanges have high barriers to entry for users and token developers, with a non-refundable application fee of $10,000 and total listing costs ranging from $50,000 to $300,000.

– Crypto media publication The Block has received a $60 million investment for 80% of its equity from Singaporean venture capital firm Foresight Ventures. The Block will continue to operate as a separate company.

– A Chinese court has voided a crypto investment contract, ruling that cryptocurrencies are not protected by law in civil disputes.

– The Philippines’ Bureau of Treasury is seeking to raise $180 million through the issuance of tokenized bonds on its domestic capital market. The bonds will be issued as digital tokens and maintained in the BTr’s Distributed Ledger Technology Registry.

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