Welcome to the "Hong Kong Web3 Weekly Highlights" by Techub News. In this week's report, we will summarize the major events and developments in Hong Kong's Web3 sector between March 23 and March 29, along with the latest data insights and detailed event previews, helping you quickly and comprehensively understand the progress in Hong Kong's Web3 field last week.
Hot News
The Hong Kong-Korea Web3 Policy Promotion Alliance Preparatory Committee has officially been established. The Web3 Policy Promotion Alliance is the first cross-regional civil cooperation platform jointly initiated by legislators from both regions, aiming to promote collaborative development on key topics such as digital asset regulation, stablecoin mechanisms, blockchain infrastructure interconnection, and regulatory standards alignment...
According to sources quoted by the South China Morning Post, institutions such as HSBC and Standard Chartered are expected to become the first companies to receive Hong Kong stablecoin licenses within two weeks...
Hong Kong's Secretary for Financial Services and the Treasury, Christopher Hui, stated in a written reply to legislators' questions at a Legislative Council meeting today that the cross-border pilot application of digital renminbi in Hong Kong continues to improve...
The virtual asset trading platform "Cheetah Exchange" under Futu Holdings is now fully licensed and will be fully connected with Futu Securities, a Hong Kong retail brokerage under the group...
Cryptocurrency payment company Alchemy Pay announced that its strategic investment target in Hong Kong, HTF Securities Limited, has received approval from the Hong Kong Securities and Futures Commission (SFC)...
According to the Hong Kong Commercial Daily, the Hong Kong police announced the progress of the investigation into the JPEX fraud case involving a virtual asset trading platform. Since the investigation began in September 2023, a total of 80 individuals have been arrested, and assets worth approximately HKD 228 million have been frozen...
Industry Observation
Ethereum recently released a rare roadmap. This is not a common "upgrade checklist," but more like a systemic reconstruction plan with a timeline, performance goals, and engineering order. According to the Strawmap proposed by researcher Justin Drake, if progress goes smoothly, by 2029, Ethereum's core components will gradually be replaced: consensus mechanism, execution efficiency, data availability, privacy, post-quantum cryptography, with hardly any aspect left unchanged.
On March 13, 2026, the People's Bank of China and the State Administration of Foreign Exchange jointly issued the "Management Measures for Domestic Enterprises' Overseas Loans" (Yinfa [2026] No. 63, hereinafter referred to as "Management Measures"), with new rules officially implemented on April 20, 2026, simultaneously abolishing the three previous regulations regarding overseas loans from 2009, 2016, and 2021, completely ending the previous separate regulatory pattern of RMB and foreign currency overseas loans, marking the formal shift of domestic enterprises’ overseas loan business into a new stage of integrated regulation of both domestic and foreign currencies under macro-prudential supervision.
The internal review agency under the Office of Management and Budget (OMB) announced that it has completed the review of the new regulations on 401(k) retirement plans issued by the U.S. Department of Labor (DOL).
Bloomberg reports that Tether has hit the "pause button" on its $20 billion financing plan. Previously, Tether ambitiously sought large-scale private fundraising, targeting a valuation of $500 billion, aiming to join the ranks of top private companies like OpenAI and SpaceX.
Data Insights
Hong Kong Bitcoin & Ethereum Spot ETF Inflows and Outflows
According to data from ichaingo, last week the net subscription for Hong Kong Bitcoin spot ETFs was 34.28 units, with a total ETF holding value of approximately $271 million, a decrease in holding value of about $6 million; the net redemption for Ethereum spot ETFs was 1210 units, with a total ETF holding value of approximately $66.05 million, a decrease in holding value of about $1.74 million.
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