We are sorry, the requested page does not exist
Hong Kong launches retail-friendly rules for crypto exchanges
Hong Kong opened its arms to the virtual asset world on Thursday, launching new retail-friendly rules for the city's crypto exchanges. The Chinese finance hub is pivoting to embrace crypto despite high-profile failures in recent months, including the meltdown of trading platform FTX, which wiped out more than $1.5 trillion in the market. China has had a strict crypto ban since 2021, but in Hong Kong -- which operates on a separate legal framework -- trading has been allowed through unregulated, meaning individual investors use unlicensed platforms. The regulatory regime launched Thursday means that after a one-year transition period, all crypto exchanges in Hong Kong must be licensed, and will be able to take on retail clients. "(The sector) fundamentally is going to stay despite all the risks... These activities have to be allowed in a regulated way," the city's financial services and treasury chief Christopher Hui told AFP. The new rules have an emphasis on investor protection measures, like requiring exchanges to vet their clients and limit their risk exposure, as well as restricting trade to "large-cap" tokens such as bitcoin. Crypto exchange OKX -- founded in China but now based in Seychelles -- told AFP it was "committed to the Hong Kong market" and will apply for a license. "Hong Kong is making concrete strides and is building confidence among industry players," said Lennix Lai, OKX's global chief commercial officer. Regulators said they hope to move quickly to issue the first licenses. But a prominent activist investor in Hong Kong said Thursday the new policy lends credibility to a risky sector and endorses speculation. "Hong Kong has a history of jumping onto financial bandwagons just as the wheels are falling off," David Webb, a former investment banker, told AFP. The government may say the new crypto regime is similar to that of traditional finance, but Webb said the "analogy breaks down" as most crypto -- unlike stocks or futures on companies and commodities -- have no intrinsic value. "There's no reason why (the government) should encourage people to bet on someone else paying more for something that has no fundamental value," Webb said. Last year, the city said HK$1.7 billion ($217 million) was lost to crypto-related scams, which police attributed to criminals taking advantage of the public's lack of sector knowledge. The new rules ask exchanges to conduct a "holistic assessment" of a client's understanding of digital currencies before taking them on, but give no specifics. One company licensed under Hong Kong's previous regime tells its prospective clients to take a screenshot showing they have finished watching 13 instructional videos in a free online course. But they "DO NOT need to complete any programme assignments or take any tests", it wrote on its website. The post Hong Kong launches retail-friendly rules for crypto exchanges appeared first on Daily Tribune......»»
Cambodian killed by 40 crocodiles after falling in enclosure
About 40 crocodiles killed a Cambodian man on Friday after he fell into their enclosure on his family's reptile farm, police said. Luan Nam, 72, was trying to move a crocodile out of a cage where it had laid eggs when it grabbed the stick he was using as a goad and pulled him in. The main group of reptiles then set about him, tearing his body to pieces and leaving the concrete enclosure at the farm in Siem Reap awash with blood. "While he was chasing a crocodile out of an egg-laying cage, the crocodile attacked the stick, causing him to fall into the enclosure," Mey Savry, police chief of Siem Reap commune, told AFP. "Then other crocodiles pounced, attacking him until he was dead," he said, adding that the remains of Luan Nam's body were covered with bite marks. One of the man's arms was bitten off and swallowed by the crocodiles, he said. Luan Nam was the president of the local crocodile farmers' association but his family may now sell his stock, after urging him for years to stop raising the reptiles, commune chief May Sameth told AFP. A two-year-old girl was killed and eaten by crocodiles in 2019 when she wandered into her family's reptile farm in the same village, the police chief said. There are a number of crocodile farms around Siem Reap, the gateway city to the famed ruins of Angkor Wat. The reptiles are kept for their eggs, skins and meat as well as the trade in their young. The post Cambodian killed by 40 crocodiles after falling in enclosure appeared first on Daily Tribune......»»
CPP is deceiving the public for denying existence of its front organizations — Roque
It would be the height of deception of the local communist rebel group if it will deny the existence of their front organizations, a Palace official said Tuesday. Presidential Spokesperson Harry Roque (OPS / FILE PHOTO / MANILA BULLETIN) According to Presidential spokesman Harry Roque, the Communist Party of the Philippines (CPP) has an armed group, the New People’s Army (NPA), as well as a political wing composed of the so-called legal front groups. He argued that these front organizations may not take up arms but still belong to the communist rebel group. Roque made the statement even after clarifying that authorities have been advised against red-tagging personalties without presenting proof. “Lilinawin ko, bagama’t ang sinabi ni Secretary Lorenzana na polisiya natin talaga ay kung walang ebidensiya dapat manahimik at huwag mag-red tagging eh hindi naman po ibig sabihin noon na wala talagang mga organisasyon na talagang kasapi at kabahagi ng CPP-NPA (I’d like to make clear that although (Defense) Secretary (Delfin) Lorenzana mentioned our policy to stay silent and avoid red-tagging personalities without proof, it does not mean that there are no organizations belonging to the CPP-NPA),” Roque said during a televised press briefing. “Ang CPP-NPA po, talagang mayroon silang revolutionary armed struggle, iyan po iyong NPA at mayroon silang political, kasama sa political ay iyong mga tinawag nilang mga organisasyon na diumano’y legal dahil hindi naman sila humahawak ng baril pero kabahagi pa rin po ng CPP-NPA at hindi po madi-deny iyan. Kaplastikan po ng CPP-NPA kung sasabihin nilang wala silang mga legal fronts na tinatawag. (The CPP-NPA has a revolutionary armed struggle, that’s the NPA and they have a political arm composed of what they call legal organizations because they don’t take up arms but they are still part of the CPP-NPA and that cannot be denied. It will be deceitful for the CPP-NPA if they will say they don’t have so-called legal fronts),” he said. Amnesty International earlier appealed to the Philippine government to halt “its vicious and at times deadly practice of red-tagging” or labeling of groups or persons as communists or terrorists. The group urged the government to address criticisms about its policies instead of allegedly endangering people practicing free speech.“In the prevailing context where red-tagged individuals become the targets of harassment, threats and even killings, courts and pertinent government agencies must take concrete steps to ensure the safety and protection of these individuals,” the group said in its website. The appeal was made as the Senate started an inquiry into the controversial red-tagging activities of some military officials. Last week, the Palace said President Duterte wanted military and police officials to stop labeling personalities as communists without showing evidence. Duterte has spoken through Lorenzana who advised officials to be careful in red-tagging, according to Roque. .....»»
Reservations in Paradise
Shangri-La Mactan transcended the ordinary, whisking its guests away on an epicurean journey like no othe.....»»
Baltimore bridge collapses after cargo ship rams it
A major bridge in the US city of Baltimore almost entirely collapsed Tuesday after being struck by a cargo ship, sending multiple vehicles and up to 20 people plunging into the harbor below. Dramatic footage shows a container ship hitting a footing of the Francis Scott Key Bridge, sending the steel-built structure into the Patapsco.....»»
PRO-Davao awaiting order from Senate’s sgt-at-arms to arrest Pastor Quiboloy
THE Police Regional Office-Davao (PRO-Davao) has confirmed that they have not deployed law enforcers to arrest Pastor Apollo Quiboloy, a long-time religious fugitive in the country as they are awaiting a direct signal from the Office of Sergeant-at-Arms (Osaa) in the Senate......»»
Biden to Host Japan PM Kishida, Philippines President Marcos
WASHINGTON - President Joe Biden will host Japanese Prime Minister Fumio Kishida and Philippines President Ferdinand Marcos Jr. for a White House summit next month amid growing concerns about North Korea's nuclear program, provocative Chinese action in the South China Sea and differences over a Japanese company's plan to buy an iconic American steel company.White House press secretary Karine Jean-Pierre in a sta.....»»
Samar I continues to build road connectivity in Calbayog City
A 350-meter Portland Cement Concrete Pavement (PCCP) with a width of five (5) meters is built in the said area to replace the footh path that residents would trudge in order to reach said barangays......»»
Catch wall built in Brgy. Nabang to protect motorists
Samar First District Engineering Office has completed the construction of a concrete catch wall in Brgy. Nabang, Calbayog City, Samar with a total revised contract amount of P38.40 million funded under the General Appropriations Act (GAA) 2023......»»
Alleged arms dealer nabbed in Argao town
Alleged arms dealer nabbed in Argao town.....»»
Alcoy accident: Motorcycle crashes into barrier; retired seafarer dead, wife hurt
CEBU CITY, Philippines — A retired seafarer lost his life while his wife got injured when their motorcycle bumped into a concrete road barrier in Barangay Guiwang, Alcoy, Cebu at around 5:43 p.m. on Monday, March 4, 2024. The victims were identified as Tertuliano Bergantin, 66, a former seafarer, and his wife Nimfa Bergantin, 60,.....»»
Korea s Oscars entry Concrete Utopia with Park Seo Joon now available for streaming
The South Korean disaster thriller movie "Concrete Utopia," which grossed nearly $29 million (P1.62 billion) and was the country's entry to the 2024 Oscars, is now streaming on Viu Philippines.....»»
New Delhi raises target for defense exports
India is set to increase production of aircraft engines and gas turbines, aiming to become a major player in the arms tradeThe Indian government has increased its annual target for defense and aerospace production to $36 billion, while raising the export target to $6 billion. Indian Defense Minister Rajnath Singh said the country aims to increase its production of jet engines and gas turbines to.....»»
Robin nag-sorry sa ‘drip session’ ni Mariel sa Senado: Hindi na mauulit
MATAPOS umani ng batikos, nag-sorry na si Sen. Robin Padilla sa kontrobersyal na “drip session” ng asawang si Mariel Rodriguez sa loob mismo ng kanyang opisina sa Senado. Nagpadala ng dalawang sulat ang aktor at senador ngayong araw, February 26, na naka-address kina Senate Medical Bureau chief Dr. Renato Sison at Senate Sgt-at-Arms Roberto Ancan......»»
Angeles City school gets arms chairs from DENR
Angeles City school gets arms chairs from DENR.....»»
Ravens Are Intelligent, Strategic, And Playful
A "Love for Living Animals" Essay Edgar Allen Poe's classic poem, The Raven, has through generations, led people to know about this bird for the first time. The poem turned Poe from a nobody to an overnight celebrity. Children followed him everywhere he went, flapping their arms like bi.....»»
CHR to launch alert system for journalists under attack
In a statement, the CHR said that “Alisto! Alert Mechanism” seeks to “provide a concrete platform where it may directly respond to attacks and threats against media workers.”.....»»
Portion of Osmeña Blvd. closed due to skywalk removal
CEBU CITY, Philippines —A portion of Osmeña Blvd. was ‘temporarily closed’ from the corner of Fuente Osmeña Circle to the Arlington Pond intersection starting Thursday, Feb. 15, 2024. This closure is due to the presence of concrete cracks and falling debris from the Fuente skywalk, as the contractor is removing roofings and railings. With the.....»»
No one to hug on Valentine’s Day? Try hugging trees!
CEBU CITY, Philippines – As Valentine’s Day graces our calendars with its presence, a different kind of love story unfolds—one that blossoms not in the exchange of roses and chocolates, but in the silent rustle of leaves and the sturdy arms of ancient trees. Amid the whirlwind of romantic air, the Department of Environment and.....»»
‘Wife out’
No, this is not a story about some philandering husband who decided to kick out his wife to be in the arms of his lover......»»