Welcome to the "Weekly Recap of Hong Kong Web3" by Techub News. In this weekly report, we will summarize the significant events and developments in the Hong Kong Web3 sector from March 16 to March 22, as well as the latest data insights and detailed activity previews, helping you quickly and comprehensively understand the progress in the Hong Kong Web3 field last week.
Hot News
According to Zhitong Finance, Google announced that it will open the Gemini experience to users across Hong Kong, with this update being released in phases, initially focusing on the popularization of the Gemini web application, which will later include app mobile applications......
According to Bloomberg, Hong Kong stablecoin payment company RedotPay is negotiating with multiple institutions for a new round of financing of up to $150 million. Previously, the company completed over $150 million in financing last year, with investors including Coinbase and Circle's venture capital arms. Currently, RedotPay is valued at over $1 billion......
According to Ta Kung Pao, the Hong Kong Central District Police reported today on the results of the "Thunder Drum" operation. Since February of this year, the police have received reports from 13 victims, with losses ranging from 50,000 HKD to 1.3 million HKD, totaling a loss of up to 5 million HKD......
The Hong Kong Securities and Futures Commission released the Q4 2025 report. The report pointed out that the emerging ecosystem in Hong Kong continues to develop strongly in digital assets. The recognized tokenized retail currency fund has grown to a managed asset value of 8.66 billion HKD since its launch in 2025 by December......
Hong Kong listed company Coolpad Group announced that its previously purchased MSTR subscription options have expired. The wholly-owned subsidiary Digital Tech sold a total of 240 MSTR subscription options involving 24,000 shares on March 18, with a total premium of $34,140......
According to Hong Kong media Orange News, President of the Hong Kong Securities and Futures Professionals Association Chan Chi-hwa commented on the dispute over broker clients needing to "pre-register designated bank accounts," stating that although the regulatory circular proposed establishing a bank account registration mechanism with a limit, the related practice might stem from an improper application of the virtual asset regulatory thinking (such as pre-approval of wallet addresses) to the traditional securities industry.....
Hong Kong Financial Secretary Paul Chan published an article. He stated that Hong Kong is promoting a mutually reinforcing development strategy of "AI+" and "Finance+". Among them, the development and application of open-source frameworks related to artificial intelligence will help Hong Kong gather global elites and technology. Regarding the hardware foundation of the open-source framework......
Industry Observation
In March 2026, Michael Selig, the 16th chairman of the Commodity Futures Trading Commission (CFTC), was interviewed by the cryptocurrency podcast Bankless. This was not an ordinary regulatory official interview, but a historically significant policy declaration.
In the past few years, the U.S. cryptocurrency industry has experienced a dark period referred to as "regulatory hell" by the industry. Former SEC Chairman Gary Gensler, with "enforcement is regulation" as the core strategy, issued Wells notices to dozens of cryptocurrency companies, filed lawsuits, and pushed many innovators and capital offshore. At the same time, under the Biden administration, the CFTC also attempted to ban political event contracts and sports event contracts through rule-making, stifling prediction markets at their inception.
【Research Scope】 This report systematically reviews the tax rules concerning digital assets in Hong Kong from 2020 to the present. We analyzed various guidelines issued by the Hong Kong Inland Revenue Department, regulatory documents published by the Securities and Futures Commission and the Monetary Authority, relevant ordinances passed by the Legislative Council, and official documents such as policy declarations issued by the government, hoping to provide readers with a comprehensive and clear regulatory picture.
On March 15, 2026, Venus Protocol, a leading lending protocol on the BNB Chain, fell victim to a carefully orchestrated attack. The attacker circumvented the supply limit in the THE (Thena) market within the Venus Protocol Core Pool (BNB Chain), inflating the collateral position up to 3.67 times the limit, borrowing approximately $14.9 million in assets [1]. Early media reports qualified this as an exploit of approximately $3.7 million, but on-chain data presented a more complex situation: both the protocol and the attacker were at a loss on-chain.
The executing party of this tokenization trading pilot is DTC (Depository Trust Company), which belongs to the subsidiary of DTCC (Depository Trust & Clearing Corporation). The SEC has approved DTC to provide asset tokenization custody services, allowing it to offer three-year tokenization services on a pre-approved blockchain for participants and their clients, covering highly liquid assets, including the Russell 1000 index, ETFs tracking major indices, and U.S. Treasury bonds.
Data Insights
Hong Kong Bitcoin & Ethereum Spot ETF Inflow and Outflow Situation
According to data from IChainGo, last week Hong Kong's Bitcoin spot ETF had no net subscriptions or redemptions, with a total holding value of approximately $277 million, a decrease in holding value of about $3 million; the Ethereum spot ETF also had no net subscriptions or redemptions, with a total holding value of approximately $67.79 million, an increase in holding value of about $1.27 million.
Activity News
"AI + Web3 for Seamless Supply Chains," co-hosted by EX.IO, LinkedIn Local Asia, InnovateXP, and NANWANI Solicitors LLP, will take place on March 27 from 18:00 to 21:00 in Hong Kong. This event explores ways to break free from endless traditional banking delays, significantly reduce intermediaries, and pave the way to instant cash flow—while leveraging AI technology to greatly enhance supply chain efficiency.
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