Hong Kong Web3 Daily Must-Read: Coinbase plans to launch an internal prediction market, Huaxia Fund Hong Kong to launch Asia's largest tokenized currency market fund on Solana.
Fear and Greed Index: 24 (Fear)
Bitcoin Price: $89,306
BTC/ETH Spot ETF Fund Flow (Last Week)
BTC Net Inflow: $286.60 M
ETH Net Inflow: $208.94 M
Hong Kong
BTC/ETH Spot ETF Fund Flow (Last Week)
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ETH Net Subscription: 0 ETH
[The Financial Secretary of the Hong Kong SAR Government, Paul Chan, stated in a blog that "the public consultation for the new fiscal budget for the upcoming year is about to begin. How to further expand the dimensions and areas of economic development, accelerate the cultivation and application of innovative technology, optimize the industrial structure, create more quality jobs, and add momentum for high-quality development will be one of the important topics. We look forward to more specific suggestions from everyone, working together to build a better future for Hong Kong."]( <p class=)
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[]( Web3 development, there will be no significant changes in the development of stablecoins in Hong Kong
<p class=)[A robbery attempt occurred at a cryptocurrency exchange store in Mong Kok, Hong Kong. The 46-year-old store owner was confronted by three men attempting to rob him while closing the store. During the struggle with the suspects, the owner injured his finger and was subsequently sent to Kwong Wah Hospital for treatment, where he was conscious. The involved cryptocurrency exchange store is located on the 1st floor of W Plaza, and both the scene and the mall corridor are equipped with surveillance devices. The police arrived to investigate and are currently tracking the suspects, initially believing that the victim suffered no loss.](<p class=)
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[]( Gradually enhance support for tokenized issuance and post-trade operational capabilities
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[]( / Yunbo Holdings 2.0" platform has no relationship, beware of stablecoin fraud
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]( Selected activities in Hong Kong for December
We have specially compiled noteworthy activities in the cryptocurrency field in Hong Kong for December, which will open a window to the future of Web3 for you.
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[Regulation/Macro]( Selected activities in Hong Kong for December
We have specially compiled noteworthy activities in the cryptocurrency field in Hong Kong for December, which will open a window to the future of Web3 for you.
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An article titled "Establishing Multiple Judicial Disposal Paths for Criminal Involvement in Virtual Currency" was published on the Justice Network, overseen by the Supreme People's Procuratorate and organized by the Procuratorial Daily. The article points out that the legitimacy of judicial disposal of criminally involved virtual currencies stems from multiple logics of legal authorization, practical needs, and risk prevention. Its core lies in balancing the conflict between financial regulation and property rights protection, and achieving the unity of judicial objectives and regulatory goals through procedural norms. The improvement of judicial disposal paths for criminally involved virtual currencies requires clarifying the legal status and role positioning of third-party institutions; constructing a dual system of technical standards and procedural norms; strengthening the entire process connection of procuratorial supervision and rights protection; and exploring differentiated disposal models.
The negotiations on the cryptocurrency market structure bill in the U.S. Senate may be delayed until January next year due to unresolved points of contention. The legislative text has been privately circulated among industry insiders, and industry executives briefly reviewed the current draft at a White House meeting on Thursday, hosted by Patrick Witt, a cryptocurrency advisor to President Donald Trump. The negotiations involve Senate Democrats, Republicans, the White House, and the cryptocurrency industry, with four major points of contention still needing resolution, including ethical standards for government officials' participation in digital assets, particularly Trump's involvement, whether stablecoins should be linked to yields, and the SEC's jurisdiction over tokens and DeFi.]( SEC releases guidelines for cryptocurrency wallets and custody
The U.S. Securities and Exchange Commission (SEC) released guidelines for cryptocurrency wallets and custody, outlining best practices and common risks for different forms of cryptocurrency storage for the investing public.
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A coalition of MPs from various parties in the UK has written to Chancellor of the Exchequer Rachel Reeves, calling for amendments to the stablecoin framework proposed by the Bank of England to prevent stifling innovation and capital flight. The MPs warned that the Bank of England's draft framework restricts the use of stablecoins in wholesale markets, prohibits interest on reserves, and sets a holding limit of £20,000, which could undermine the appeal of London as a global financial center and force investors to turn to dollar-pegged alternatives. The letter calls for the establishment of a forward-looking stablecoin framework to ensure international investment, support the growth of high-value fintech, and solidify the UK's position as a global innovation center.
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The credit rating agency Moody's is proposing a new framework for assessing stablecoins that are increasingly integrated into the traditional financial system. It suggests first assessing each type of eligible asset in the stablecoin reserve pool and determining its credit quality through the ratings of the assets and their related counterparties. This framework implies that in practice, two stablecoins claiming to be pegged 1:1 to the dollar may receive different ratings due to differences in their underlying reserve assets. Moody's is currently inviting market participants to submit feedback on this proposal by January 26, 2026.
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Florida prosecutors announced the successful seizure of approximately $1.5 million in fraudulent cryptocurrency related to a Chinese suspect, Tu Weizhi. In July 2024, a resident of Orange County reported a loss of $47,000 due to an investment scam. Investigators traced the flow of funds and found various cryptocurrencies, including AVAX, DOGE, PEPE, and SOL, in the involved wallet. Florida Attorney General James Uthmeier stated that authorities utilized Florida's fugitive waiver framework for asset seizure. The suspect is currently in China, and if he attempts to enter the U.S., he will be arrested.
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[Project/Company Updates]( $1.5 million in fraudulent cryptocurrency related to a Chinese suspect<div class=)
[]( Infrared will issue token IR on December 17
The Berachain ecosystem liquidity staking protocol Infrared announced that it will issue the token IR at 4 PM Hong Kong time on December 17. Users participating in the Infrared points activity can check their eligibility for the airdrop. This airdrop will cover early community members who continuously used Infrared during the points program, users who participated in the Boyco pre-deposit activity, and users involved in Discord community activities, user surveys, community events, testnet participation, and other forms of community engagement. The deadline for claiming the airdrop is 8 AM on January 12, 2026.
Abu Dhabi National Oil Company (ADNOC) will accept AE Coin stablecoin for payments at nearly 980 gas stations in the UAE, Saudi Arabia, and Egypt. The company has partnered with Al Maryah Community Bank to allow users to pay with AE Coin at gas stations, convenience stores, and car washes through the AEC wallet.
Aevo (formerly Ribbon Finance) tweeted that due to a vulnerability in the smart contract update, the old version of the Ribbon DOV vault was attacked on December 12, resulting in a loss of approximately $2.7 million. All Ribbon vaults have been halted and will be immediately deactivated. Users will need to withdraw their funds through the standard process after the contract upgrade is completed, which is expected to be announced next week.
Exor, the major shareholder of the Italian football club Juventus, unanimously rejected Tether's binding offer to acquire its 65.4% stake in the club for cash. Exor stated, "There is no intention to sell any of its shares in Juventus to third parties, including but not limited to Tether, which is based in El Salvador."
The Nasdaq 100 Index removed 6 companies in its annual adjustment and added 3 new companies. The adjustment will take effect on December 22, and Strategy will remain in the Nasdaq 100 Index.
The cryptocurrency trading platform Coinbase is preparing to launch an internal prediction market, which will be supported by the prediction platform Kalshi. An announcement may come as early as next week. The partnership is not exclusive, but initially, Kalshi will be the only prediction market operator for Coinbase. Coinbase declined to confirm the report to CNBC but stated that updates will be available next week.
<div class=)[Interactive Brokers will allow stablecoins to fund brokerage accounts.](<p class=)
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Mike Cagney, Executive Chairman of Figure's Board, stated at the Solana Breakpoint conference that Figure is issuing a new version of Figure equity natively on the public chain. This issuance will not go through DTCC, nor will it be traded on Nasdaq or NYSE, and it will not rely on referral brokers like Robinhood or major brokerage services from institutions like Goldman Sachs. This is a blockchain-native security traded on Figure's own Alternative Trading System (ATS), essentially a decentralized trading platform: self-custody, self-execution, and autonomous market. Investors will be able to bind these securities to an ATS wallet instead of a traditional referral brokerage account; they can then use this equity for collateral lending, borrowing, and other operations in DeFi.
Pakistan has signed a memorandum of understanding with Binance to explore the tokenization of up to approximately $2 billion in sovereign bonds, treasury bills, and commodity reserves to enhance liquidity and attract international investment. Meanwhile, Pakistani regulators have granted preliminary licenses to Binance and HTX, allowing them to initiate local registration and prepare for applying for a full exchange license.
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[]( $2 billion asset tokenization
Pakistan has signed a memorandum of understanding with Binance to explore the tokenization of up to approximately $2 billion in sovereign bonds, treasury bills, and commodity reserves to enhance liquidity and attract international investment. Meanwhile, Pakistani regulators have granted preliminary licenses to Binance and HTX, allowing them to initiate local registration and prepare for applying for a full exchange license.
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[]( V4: From Fragmented Markets to Modular Liquidity<p class=)[
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The world is slowly but steadily returning from an ethereal credit currency system to a tangible physical asset system. In this new system, gold is the measure of credit, and silver is the measure of production capacity. One represents the bottom line of safety, while the other represents the limits of industry.
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[Perspective](
The world is slowly but steadily returning from an ethereal credit currency system to a tangible physical asset system. In this new system, gold is the measure of credit, and silver is the measure of production capacity. One represents the bottom line of safety, while the other represents the limits of industry.
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[SEC Chair Atkins pointed out: On-chain markets will provide investors with greater predictability, transparency, and efficiency. DTC participants can now directly transfer tokenized securities to the registered wallets of other participants, and these transactions will be tracked by DTC's official records. This initiative by DTC marks an important step towards on-chain capital markets.]( What insights can be drawn from the frequent regulatory benefits from the SEC and OCC?<p class=)
[]( What insights can be drawn from the frequent regulatory benefits from the SEC and OCC?
