Hong Kong to Regulate #Cryptocurrency OTC Markets.

Hong Kong is shifting its attention to overseeing cryptocurrency trading that happens directly between parties, known as over-the-counter (OTC) trading. The government aims to reduce the risks associated with virtual assets, especially with the increasing interest from mainland investors who use Hong Kong as a gateway to invest in cryptocurrencies.

#APPLE revenue declined for the fifth time due to ailing iPhone sales and competition in #China. . It plans to buy back up to $110bn in stock.

According to the data, the deadline for filing 13-F forms for the first quarter is May 15. 168 asset management companies have filed 13-F documents to disclose their holdings in #BlackRock with the two largest being located in Hong Kong, #China. .

### China's Crypto Crackdown Shakes: Billions in Illegal Bitcoin (BTC) Transactions Revealed

🔍 **Recent Developments**:
- **#ChinaDrama** shows cryptocurrencies remain in use despite the government's ban.
- Police raids uncovered illegal transactions worth billions.

📰 **Key Findings**:
- A #Bloomberg report highlighted a May bust of an underground bank linked to illegal transfers worth **13.8 billion yuan (~$1.9 billion)**.
- Authorities found unauthorized conversions worth nearly **2 billion yuan** and transactions over **1 billion yuan**.

💹 **Continued Interest**:
- **#Chinese** citizens still invest in digital assets amid falling real estate prices.
- Crypto is used to bypass foreign transfer limits.

🔗 **Expert Insights**:
- **Chengyi Ong** of #APAC policy at Chainalysis Inc. noted ongoing significant crypto activity in China.
- Lax enforcement and the decentralized, peer-to-peer nature of crypto contribute to this.

📉 **Enforcement Challenges**:
- Despite government efforts, significant crypto activity persists.
- Underground banks and illegal exchanges highlight enforcement difficulties.
- Stricter enforcement and addressing root causes are crucial for the ban's effectiveness.

#Crypto_Jobs🎯 #Bitcoinarena #btc70 #CryptocurrencyPredictions #China.

BRICS Enters #Bitcoin #Mining: China & Ethiopia Sign BTC Miners Deal

The new #BRICS member Ethiopia is signing Bitcoin mining deals with its alliance partner #China. The #Ethiopian State Electricity Company launched affordable hydropower to attract foreign investments into the country. Ethiopia’s pursuit for foreign exchange currencies netted China’s interest making the two BRICS countries sign a Bitcoin miners deal. China found Ethiopia’s hydropower electricity affordable and lucrative, attracting the perfect opportunity for Bitcoin miners.