– HashKey Hong Kong, the first licensed virtual asset provider in Hong Kong, will open its doors for retail trading on August 28. Investors will be limited to investing up to 30% of their net worth into cryptocurrencies, with a risk control warning displayed if the limit is exceeded.
– China is cracking down on private blockchain firms operating within its borders, as the country aims to eliminate them due to concerns over capital flight. Blockchain projects in China are being targeted, with third-party tracking firms tipping off the police, leading to arrests and asset forfeitures. Crypto executives are reportedly intimidated into handing over private keys and access to servers, resulting in the seizure of assets by the state.
– Despite the crackdown on private crypto activities, government-led blockchain efforts in China are thriving. The first digital yuan central bank digital currency green bond was issued, raising 100 million Chinese yuan ($14 million) to finance a solar panel facility expansion project.
– The U.S. Federal Bureau of Investigation has identified 1,580 BTC ($41 million) stolen by North Korean hackers from various projects. The FBI warns private sector entities to be vigilant in guarding against transactions with these addresses, as North Korea may attempt to cash out the stolen funds.
– Yi Xiao, a former vice chairman of the Jiangxi Provincial Political Consultative Conference Party Group, has been sentenced to life in prison for corruption and abuse of power in a Bitcoin mining enterprise. Xiao operated a $329 million Bitcoin mining enterprise and used his public office to secure subsidies and electricity supply for the company. China has been cracking down on crypto activities this year.
