Hong Kong Urges Major Banks to Embrace Crypto Exchanges as Clients

Hong Kong is welcoming crypto exchanges and establishing a regulatory framework for stablecoins, while Bank of China has tokenized $28 million in debt notes on the Ethereum blockchain. Meanwhile, Do Kwon, CEO of Terraform Labs, and his CFO have been ordered back to jail in Montenegro pending extradition proceedings to South Korea for their role in the $40 billion collapse of the Terra Luna ecosystem. In South Korea, crypto lenders Haru Invest and Delio have paused withdrawals due to suspected fraud, causing concerns of contagion in the industry.