Organized by: Nona, Techub News
**TinTinLand
**
Fear and Greed Index: 50 (Neutral)
Bitcoin Price: $115,068
BTC/ETH Spot ETF Fund Flow (9.15)
BTC Net Outflow: $5.14 M
ETH Net Outflow: $3.46 M
Hong Kong
BTC/ETH Spot ETF Fund Flow (9.15)
BTC Net Subscription: 0 BTC
ETH Net Subscription: 0 ETH
[]( Comprehensive guidelines for stablecoin auditing and accounting to be issued within 1-3 years
Sun Deji, Chairman of the Hong Kong Institute of Certified Public Accountants, stated in an interview that the stablecoin industry in Hong Kong is still in its infancy. If a large number of detailed auditing standards are hastily formulated at this stage, it may be detrimental to the industry. It is expected that comprehensive stablecoin auditing and accounting guidelines will only be issued in Hong Kong in 1 to 3 years. According to the Stablecoin Ordinance that took effect on August 1 in Hong Kong, stablecoin license holders are required to undergo independent audits annually to ensure transparency and compliance. Sun Deji indicated that the Hong Kong Financial Reporting Council may only participate indirectly in the regulation of stablecoins, and the prudent regulatory strategy for stablecoins is expected to be similar to the licensing of virtual banks (now known as digital banks) back in the day, clarifying how to audit licensed institutions and how to recognize, measure, and disclose in financial statements.
Hong Kong-listed company Yunfeng Financial (00376.HK) saw its stock rise over 18% during the trading session, having recently been approved to provide virtual asset trading services.
Hong Kong-listed company Shiteng Holdings announced the acquisition of a company that leads in artificial intelligence, blockchain, decentralized finance, and stablecoin innovation. The company signed a legally binding investment intention letter with a potential seller on September 12. According to this, the company intends to propose an acquisition of all issued shares of the target company as per the investment intention letter.
Hong Kong-listed company Sunshine Oilsands announced that it has signed a non-binding strategic cooperation agreement with international Bitcoin mining equipment supplier BitCruiser Incorporated to jointly establish a large Bitcoin mining farm in the area owned by Sunshine Oilsands in Canada. Sunshine Oilsands stated that it will be responsible for the electricity, natural gas energy, and office accommodation storage facilities required for the project, while BitCruiser will be responsible for investing in Bitcoin mining equipment and the construction and operation of the mining farm.
<div class=)[Dr. Zheng Congyan, CEO of Cyberport, stated that with the Stablecoin Ordinance in Hong Kong taking effect on August 1, Cyberport has gathered nearly 290 technology companies in fields such as blockchain, smart contracts, data auditing, and cybersecurity. Cyberport has launched a pilot project for stablecoins and digital assets, selecting 9 cross-industry cases from over 200 applications (covering finance, logistics, healthcare, etc.) to create a replicable industry template through end-to-end scenario validation (including issuance, retail, anti-money laundering, etc.).
]( ETHK Group invests to establish two new companies ETHK Inc and ETHK HOLDINGS
Hong Kong-listed company Huajian Medical recently announced a partnership with ETHK Group to jointly invest in the establishment of two new companies, ETHK Inc and ETHK HOLDINGS LIMITED.
<a href=)
[DAT
]( Selected activities in Hong Kong for September
We have specially compiled noteworthy activities in the crypto field in Hong Kong for September, which will open a window to the future of Web3 for you.
<span style=)
[]( Selected activities in Hong Kong for September
We have specially compiled noteworthy activities in the crypto field in Hong Kong for September, which will open a window to the future of Web3 for you.
<span style=)[
I still believe that DAT is overall beneficial for the crypto field, provided it can raise net new capital from the equity market and create a flywheel effect for its ecosystem.
]( DAT Investment Pitfall Guide
[The Southwark Crown Court in London plans to begin the trial of Qian Zhimin, the main suspect in the laundering of 60,000 Bitcoins and the Tianjin Lantian Ge Rui 43 billion yuan illegal fundraising case, on September 29. Reports reveal that for the victims in China, they need to "defend their rights" in the civil recovery process against criminal proceeds in the UK. According to the prosecution's application, based on the UK Proceeds of Crime Act 2002 (POCA), the Director of Public Prosecutions in the UK has initiated civil recovery proceedings for the assets seized in the Qian Zhimin case and the Jian Wen case. Once a civil recovery order is granted by the court, the substantial Bitcoins can be "confiscated" and handed over to a designated trustee of the UK law enforcement agency. Meanwhile, there has been no substantial progress in another civil route—applying for the overseas liquidation of Lantian Ge Rui in the UK.
]( Trial of Qian Zhimin, the main suspect in the laundering of 60,000 Bitcoins, to begin on September 29
[]( Trial of Qian Zhimin, the main suspect in the laundering of 60,000 Bitcoins, to begin on September 29<p class=)[The London Stock Exchange Group (LSEG) has completed its first transaction based on its blockchain system, marking the official launch of its new infrastructure, Digital Markets Infrastructure, relying on cryptocurrency technology.
](<p class=)
[](<p class=)[The Chairman of the U.S. Securities and Exchange Commission (SEC), Paul Atkins, has abolished the aggressive enforcement agenda and committed to issuing technical violation notices to companies before taking enforcement action.
]( SEC Chairman commits to issuing violation notices before taking enforcement action against companies<p class=)
[]( SEC Chairman commits to issuing violation notices before taking enforcement action against companies<p class=)[The Pakistan Virtual Assets Regulatory Authority (PVARA), established in July this year, has called on global cryptocurrency companies that have obtained regulatory licenses in at least one major jurisdiction such as the U.S., EU, or Singapore to apply for local licenses to serve the country's 40 million digital asset users.
](<p class=)
[Starknet announced the completion of BTC staking integration upgrade, allowing Bitcoin holders to participate in Starknet consensus. Specific parameters include: BTC staking weight set at 0.25, meaning Bitcoin accounts for 25% of the consensus weight, with the remaining 75% borne by STRK; initial support for WBTC, LBTC, tBTC, and SolvBTC, with other BTC derivatives to be added through governance; the staking release period shortened from 21 days to 7 days, applicable to both BTC and STRK stakers.
]( Completion of BTC staking integration upgrade<p class=)
[]( Completion of BTC staking integration upgrade<p class=)[According to The Bitcoin Historian, the Texas Teacher Retirement Fund, with assets of $200 billion, disclosed a $25 million Bitcoin exposure through MSTR.
]( MSTR holds a $25 million Bitcoin exposure<p class=)
[]( MSTR holds a $25 million Bitcoin exposure<p class=)[The Hyperliquid ecosystem project Native Markets has won the Hyperliquid stablecoin USDH bidding. Native Markets stated that it will immediately launch a phased rollout plan, starting with a small-scale minting and redemption testing phase, followed by the opening of USDH/USDC spot trading pairs, and finally lifting the limits. According to the proposal, Native Markets' USDH will be natively issued on Hyperliquid's HyperEVM network, with reserves managed by both off-chain and on-chain assets, and a clear plan to distribute reserve earnings to HYPE buybacks and expand USDH circulation. The stablecoin will be "fully backed by off-chain reserves managed by BlackRock and on-chain reserves managed by Superstate through Bridge, using cash and U.S. Treasury equivalents."
]( Markets wins Hyperliquid stablecoin USDH bidding, plans to enter testing phase "within days"<p class=)
[Polymarket has almost become synonymous with prediction markets. Public information shows that since the beginning of this year, Polymarket's monthly trading volume has repeatedly exceeded $1 billion, creating a gap with the second-ranked Kalshi. The project not only received tens of millions of dollars in investment from Trump’s son but is also preparing to return to the U.S. market while advancing a new round of financing, with the market even suggesting its valuation could reach $10 billion.
]( Hot in progress, a look at 10 ecological projects<p class=)
[]( Hot in progress, a look at 10 ecological projects<p class=)[As the regulatory environment in the U.S. becomes increasingly stringent, Tether faces compliance pressure. Tether has launched a new stablecoin, USAT, seen as a strategic move to enter the U.S. domestic market.
Opinion
]( Launching the U.S. compliant stablecoin USAT, to compete with Circle?<p class=)
[]( Launching the U.S. compliant stablecoin USAT, to compete with Circle?
Analyzed the on-chain RWA data claimed by Figure and pointed out potential exaggeration and opacity issues.
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