Hong Kong Plans TV Ad Campaign Against Crypto Investments

Hong Kong plans to launch a public ad campaign to raise awareness of the potential risks of investing in ICOs and buying cryptocurrency
29 January 2018   1009

The Financial Services and the Treasury Bureau (FSTB) and the Investor Education Centre (IEC), which is a subsidiary of the Securities and Futures Commission (SFC) announced on January 29 the launch of a public education campaign to raise awareness of the potential risks of investing in ICOs and buying cryptocurrency.

The increase in media coverage and hype around ICOs and 'cryptocurrencies', such as bitcoin, has aroused public interest. Through this series of public education initiatives, the Government aims to provide the public with a correct and comprehensive understanding of ICOs and 'cryptocurrencies', so that they can thoroughly assess the risks before making transactions or investment decisions.

 

Joseph Chan

The Under Secretary for Financial Services and the Treasury

Commencing this week, a series of advertisements will be placed in MTR stations, print and digital media. In March, there will be television and radio advertisements, as well as an educational video that will be shared on popular social media platforms, officials said.

In addition, the Chin Family website, the financial education platform of the IEC, has developed a range of educational articles and infographics to help the public understand the features and risks of ICOs and cryptocurrencies.

Binance to Partner with Chainalysis for AML

Use of Chainalysis KYT solution will allow to compile with KYC- and AML-norms and also simplify the process of opening bank accounts
18 October 2018   83

The largest exchange by daily trading volume Binance uses software from Chainalysis, called Chainalysis KYT [know your transaction], to monitor real-time transactions and identify transfers related to criminal activity. This is stated in a joint press release.

Cryptocurrency businesses of all sizes face the same core challenge: earning the trust of regulators, financial institutions and users. We expect many to follow Binance's lead to build world-class AML compliance programs to satisfy regulators globally and build trust with major financial institutions.
 

Jonathan Levin

Co-Founder and COO, Chainalysis

Thus, the use of software from Chainalysis not only guarantee compliance with the KYC- and AML-norms, but also simplify the process of opening bank accounts.

By working with Chainalysis, we are able to continue building a foundational compliance program that enables the next phase of our growth. Our vision is to provide the infrastructure for a blockchain ecosystem and increase the freedom of money globally, while adhering to regulatory mandates in the countries we serve.
 

Wei Zhou

CFO, Binance

Chainalysis KYT release was held in April.