Hong Kong Web3 Daily Must-Read: Finance ministers of EU countries reach consensus on the roadmap for launching the digital euro, with approximately $527 million liquidated across the entire network in 12 hours.
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Hong Kong
BTC/ETH Spot ETF Fund Flow (9.22)
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[The Hong Kong Securities and Futures Commission is consulting on the proposal to implement an investor identification code system in the derivatives market of the Hong Kong Stock Exchange to further enhance the integrity and sustainable development of Hong Kong's capital market.
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[](<p class=)[Hong Kong-listed company Chuangsheng Group Pharmaceutical Co., Ltd. and its wholly-owned subsidiary Transcenta Oncology Inc. have reached a strategic cooperation with Huajian Medical Holdings Limited and its two subsidiaries ETHK Inc. and ETHK HOLDINGS LIMITED. Both parties will jointly explore the potential financing of real-world asset tokenization for the development of innovative cancer therapies. If the token issuance is successful, future financing will be used to accelerate the clinical and preclinical research and development of multiple innovative cancer antibody projects.
]( RWA token potential financing for cancer therapy development progress
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[Regulatory/Macro]( Selected activities in Hong Kong in September
We have specifically compiled noteworthy activities in the crypto field in Hong Kong for September, which will open a window to the future of Web3 for you.
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]( Selected activities in Hong Kong in September
We have specifically compiled noteworthy activities in the crypto field in Hong Kong for September, which will open a window to the future of Web3 for you.
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[]( Selected activities in Hong Kong in September
We have specifically compiled noteworthy activities in the crypto field in Hong Kong for September, which will open a window to the future of Web3 for you.
<h3 dir=)[The UAE Ministry of Finance signed a "Multilateral Competent Authority Agreement" under the "Crypto Asset Reporting Framework" established by the OECD in 2023. This agreement will be published in November 2024 and establishes an automatic exchange mechanism for tax information related to crypto asset activities between countries. Crypto businesses must comply with new reporting rules by 2027, and the UAE will initiate data sharing with international tax authorities the following year. To ensure the framework meets market needs, the ministry has launched an eight-week public consultation, with a deadline of November 8. The Ministry of Finance stated that this consultation "aims to incorporate insights from experts and stakeholders to develop clear and effective regulatory rules to meet market demands."
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[](<p class=)[Finance ministers of EU countries met with European Central Bank President Christine Lagarde and EU Commissioner Valdis Dombrovskis to reach an agreement on the roadmap for launching a digital euro currency. One participant stated that the European Central Bank will also submit a proposal with a limited cap for approval by the Council of European Finance Ministers.
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[](<p class=)[Data from the Financial Intelligence Unit (FIU) of South Korea shows that from January to August 2025, virtual asset service providers submitted 36,684 suspicious transaction reports (STR), exceeding the total of 35,734 from the past two years. During the same period, the amount involved in virtual asset crimes reached 9.56 trillion won, with money laundering crimes accounting for approximately 90.2%.
]( August suspicious transaction reports for virtual assets reached 36,684, exceeding the total of the past two years
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[Project/Company Updates]( August suspicious transaction reports for virtual assets reached 36,684, exceeding the total of the past two years
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[Slow Mist's Chief Information Security Officer 23pds tweeted that "researchers have discovered a new type of attack that can bypass WebAuthn key login. Attackers can hijack the WebAuthn API through malicious browser extensions or by exploiting website XSS vulnerabilities, forcing a downgrade to password login and tampering with the key registration process to steal credentials. This attack does not require access to the device or Face ID; victims using key login on websites with malicious extensions or injection vulnerabilities may be impersonated, leading to account breaches."
]( CISO: Discovery of a new type of attack that can bypass WebAuthn key login<p class=)
[]( CISO: Discovery of a new type of attack that can bypass WebAuthn key login<p class=)[Bybit issued a statement regarding the rumors circulating online about a "security breach on September 22, with user assets stolen," stating that "this news is completely false, user funds are safe, and platform trading and operations are normal."
]( Rumors of a security breach on September 22, with user assets stolen are false<p class=)
[]( Rumors of a security breach on September 22, with user assets stolen are false<p class=)
[]( Rumors of a security breach on September 22, with user assets stolen are false<p class=)[Crypto.com denied concealing the 2023 user data breach incident from authorities. A spokesperson for Crypto.com stated that the company has submitted a "data security incident filing notification" in the national multi-state licensing system in the U.S. and has "submitted a supplementary report to the relevant regulatory authorities." Additionally, Crypto.com CEO Kris Marszalek posted a similar message on X, adding that "misinformation is being spread from uninformed sources." He stated, "Any claims that we did not report or disclose security incidents are baseless."
]( Denial of concealing the 2023 user data breach incident<p class=)
[In-Depth & Outlook]( Denial of concealing the 2023 user data breach incident<p class=)
[]( Agency and the Super Financialization of Blockchain
Artificial intelligence has changed the way we access information and create content, but this is just the beginning. A recent study by Google titled "Virtual Agent Economies" has sparked widespread attention in academia and industry.
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Perspective
]( Compliance adventure
For many years, Tether has faced regulatory controversies, ongoing transparency issues, and questions about reserve assets. Now, Tether has finally provided a product for the U.S. market that meets all regulatory requirements: fully compliant, independently audited, regulated custodians, and reserves consisting solely of cash and short-term U.S. Treasury bonds.
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[]( Compliance adventure
For many years, Tether has faced regulatory controversies, ongoing transparency issues, and questions about reserve assets. Now, Tether has finally provided a product for the U.S. market that meets all regulatory requirements: fully compliant, independently audited, regulated custodians, and reserves consisting solely of cash and short-term U.S. Treasury bonds.
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The stablecoin issuance track has become a game for giants. After the introduction of stablecoin regulations in Hong Kong, many domestic companies expressed their intention to apply for issuance qualifications, but the Hong Kong regulatory authorities also clearly indicated the need for caution, stating that stablecoins have no investment value. However, I do not believe that stablecoins lack investment value; if crypto players invest in stablecoins, they at least outperform 80% of investors.
