Welcome to read Techub News's "Weekly Highlights of Hong Kong Web3." In this week's report, we will summarize the significant events and developments in the Hong Kong Web3 sector from November 10 to November 16, 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
Insiders: Hong Kong Government Plans to Issue Third Batch of Digital Green Bonds
According to insiders cited by Bloomberg, the Hong Kong government plans to issue green digital bonds denominated in US dollars, Hong Kong dollars, euros, and offshore renminbi. These bonds may be priced as early as Monday…
According to the Hong Kong Economic Journal, Rahul Advani, Global Policy Co-Head at Ripple, stated that as other jurisdictions gradually establish stablecoin systems, the Hong Kong Monetary Authority could advance a mutual recognition mechanism for regulatory frameworks, allowing Hong Kong to recognize mechanisms from other regions…
According to Ta Kung Pao, the Hong Kong SAR government announced the successful issuance of the third batch of digital green bonds, amounting to approximately HKD 10 billion, covering multiple currencies…
Former Chairman of the Hong Kong Securities and Futures Commission: Stocks Are Essentially Tokens
According to 21st Century Business Herald, former Chairman of the Hong Kong Securities and Futures Commission, Liang Dingbang, stated in an exclusive interview that the Nasdaq in the United States has begun experimenting with tokenized stock trading and using stablecoins (such as USDC) for settlement, emphasizing that tokens are not a new concept, and stocks are essentially a type of token…
According to an announcement from the Hong Kong Stock Exchange, the Hong Kong-listed company Domain Energy Holdings has signed a purchase agreement with the licensed virtual asset exchange VAX in Hong Kong to acquire approximately 5.56% of the company's issued share capital for HKD 100 million, including HKD 24 million in cash…
China Asset Management (Hong Kong) Co., Ltd. has completed a subscription case for a tokenized fund in collaboration with Bank of China Hong Kong, Futu Securities, and Standard Chartered Hong Kong under the pilot program of the Hong Kong Monetary Authority's Ensemble project…
Leung Fung-yee has been reappointed as the CEO of the Hong Kong Securities and Futures Commission for a two-year term, effective from January 1, 2026. During her new term, she will continue to promote the Commission's key work in regulatory reform, market development, and seamless leadership transition…
Industry Insights
Global RWA Compliance Overview: Asset Tokenization Process Under Prudent Regulation in Hong Kong
In early November 2025, the Hong Kong Securities and Futures Commission issued a circular allowing virtual asset trading platforms to share global order books; just months earlier, the Hong Kong SAR government had released the "Digital Asset Development Policy Declaration 2.0," and the Monetary Authority implemented new regulations for stablecoin issuers. Behind this series of policies, Hong Kong is quietly building a globally leading ecosystem for real-world asset tokenization.
In the second half of 2025, the Hong Kong digital asset market welcomed a series of key policy adjustments. On November 3, the Hong Kong Securities and Futures Commission issued a circular allowing licensed virtual asset trading platforms to share global order books with compliant overseas platforms for the first time, significantly enhancing market liquidity.
Why Prediction Markets Are Still in the Exploration Stage
Prediction markets are experiencing a moment in the spotlight. Polymarket's coverage of the presidential election has made headlines, and Kalshi's regulatory victories have opened new avenues, suddenly making everyone want to talk about this "world truth machine." But behind this wave of enthusiasm lies a more intriguing question: if prediction markets are so good at predicting the future, why haven't they become mainstream?
The answer is not glamorous. The problem lies in the infrastructure—specifically, regulation in the U.S. (for example, Kalshi received approval from the Commodity Futures Trading Commission (CFTC), and Polymarket has established an offshore presence), but infrastructure issues remain widespread. Even in regions where prediction markets are legal, the same fundamental challenges persist.
SEC Chair May End the "Decade of Fog" in U.S. Token Regulation
Amid the wave of digital assets sweeping the global financial system, the U.S. Securities and Exchange Commission (SEC) has long been viewed as the most controversial and influential regulatory force in the crypto world. Its uncertainty in stance, strict interpretation of the definition of "securities," and frequent enforcement actions have made it difficult for innovators and investors to navigate through the fog.
However, a fundamental shift is occurring. On November 12, 2025, SEC Chair Paul S. Atkins, in his speech titled "Project Crypto," not only clearly responded to the market's demand for regulatory certainty but also proposed a new regulatory paradigm based on "economic substance" rather than "technical labels." The core of this shift is to no longer view every technological innovation as suspicious but to recognize that the lifecycle of investment contracts may terminate, thereby clearing the final institutional barriers for token compliance.
Policy Winds Activate Private Investment: Can RWA Become a Trillion-Dollar "Disruptor"?
A policy document and a technological revolution are quietly converging in China's capital markets, potentially leading to disruptive changes in the investment paths of private capital. The State Council recently issued "Several Measures to Further Promote the Development of Private Investment," which has created significant waves. This new policy, proposing 13 specific measures, aims to comprehensively stimulate the vitality of private investment from three dimensions: expanding access, unblocking bottlenecks, and strengthening guarantees.
Data Insights
Hong Kong Bitcoin & Ethereum Spot ETF Inflows and Outflows
According to data from ichaingo, last week, the redemption volume of the Hong Kong Bitcoin spot ETF was 117.72 units, with a total ETF holding value of approximately USD 359 million, a decrease of about USD 29 million in holding value; the subscription volume of the Ethereum spot ETF was 30.44 units, with a total ETF holding value of approximately USD 104 million, a decrease of about USD 4 million in holding value.
Event Information
"Web3 and the Global New Order"
"Web3 and the Global New Order" will be held on November 18 from 14:00 to 18:00 in Hong Kong, hosted by ME. Following the business exploration of "Web3 Innovation and Business Opportunities," the regional deep dive into "Development Opportunities and Challenges under Hong Kong's New Web3 Policies," and the summit of "Crypto Finance Forum 2025 - HKU Special Session," the latest event in the HKU Business School's Web3-themed series will take you to a global perspective, overlooking this century's transformation driven by code, computing power, and consensus.
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