"Hong Kong to allow for staking services on licensed crypto platforms" Apr 07, 2025

"Hong Kong to allow for staking services on licensed crypto platforms" Apr 07, 2025

Released Monday, 7th April 2025
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"Hong Kong to allow for staking services on licensed crypto platforms" Apr 07, 2025

"Hong Kong to allow for staking services on licensed crypto platforms" Apr 07, 2025

"Hong Kong to allow for staking services on licensed crypto platforms" Apr 07, 2025

"Hong Kong to allow for staking services on licensed crypto platforms" Apr 07, 2025

Monday, 7th April 2025
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at oracle.com slash DCR. It's

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8am Eastern, April 7th, and this,

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says your Daily Crypto Report, Bitcoin

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is down half a percent at

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$76,678, Eith is down 1% at

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$1,482, XRP, is down 1% at

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$1.76. Well Global Cryptofunds saw $240

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million in outflows last week, mostly

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from US-based Bitcoin products like those

1:56

from Grace. Black Rock and Bitwise,

1:59

Bitcoin alone accounted for $270 million

2:01

of that. Despite the pullback total

2:03

crypto assets under management rose 1%

2:06

to $132 billion holding up better

2:08

than traditional markets until late yesterday

2:10

when Bitcoin and market leaders fell

2:13

off, analysts say this reflects typical

2:15

market behavior amid Trump's new tariffs.

2:17

Well Hong Kong now allows licensed

2:20

crypto platforms and ETFs to offer

2:22

staking services according to new guidance

2:24

from the Securities and Futures Commission

2:27

platforms must get written approval before

2:29

offering staking and implement strict safeguards

2:31

to protect client assets and disclose.

2:33

risks. This move is part of

2:35

Hong Kong's broader crypto roadmap announced

2:38

in February, which includes plans to

2:40

explore new token listings, margin trading,

2:42

derivatives, staking, borrowing, and lending. The

2:44

region launched its licensing regime for

2:47

virtual asset trading platforms in June

2:49

2023. The SFC says expanding regulated

2:51

crypto services is key to Hong

2:53

Kong's ambitions to become a global

2:55

crypto hub, especially with growing competition

2:58

from the US under pro-krypto president

3:00

Donald Trump. Well Connor McGregor's real

3:02

token launched with the Real World

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Gaming Dow failed to meet its

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$1 million pre-sale minimum raising just

3:09

$192,000 in 28 hours. All funds

3:11

will be refunded. The token aimed

3:13

for a $3.6 million raise via

3:15

sealed bid auction. Despite promotion to

3:18

McGregor's 57 million followers, interest was

3:20

low, signaling fading hype around celebrity-backed

3:22

tokens. And the launch timing amid

3:24

a market cratering definitely didn't help.

3:27

On-chain sleuth, ZachXBT sarcastic post responding

3:29

to the launch... call saw more

3:31

engagement than the launch post. And finally,

3:33

Kasa CSO, Jamieson Lop says address poisoning

3:35

attacks are ramping up on Bitcoin and

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these scams attackers send tiny transactions from

3:40

wallet addresses that mimic the beginning and

3:42

end of a real address a user

3:44

has interacted with hoping the victim accidentally

3:47

sends funds to the wrong address later.

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Lop scanned the Bitcoin blockchain and flagged

3:51

48,000 likely attacks since 2023. He found

3:53

one confirmed case where a user mistakenly

3:56

sent some satoshes to a poisoned address

3:58

and then corrected it. 12 hours later,

4:00

the original wallet held nearly 8 BTC,

4:03

so the attacker almost got a big

4:05

payday. These attacks are cheap to execute

4:07

thanks to Bitcoin's low transaction fees. Lop

4:10

says higher fees would discourage this kind

4:12

of spam, which also affects Ethereum and

4:14

other chains, one Ethereum and other chains,

4:17

one Ethereum user lost $71 million in

4:19

a similar scam last year, though the

4:21

funds were eventually recovered. Lop recommends wallet

4:24

developers add warnings when a user interacts

4:26

with a suspiciously similar address with a

4:28

suspicious similar address to help prevent mistakes.

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I owe and listen to us everywhere

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