Fear and Greed Index: 29 (Extreme Fear)
Bitcoin Price: $88,548
BTC/ETH Spot ETF Fund Flow (12.22)
BTC Net Outflow: $144.35 M
ETH Net Inflow: $84.59 M
Hong Kong
BTC/ETH Spot ETF Fund Flow (12.22)
BTC Net Subscription: 0 BTC
ETH Net Subscription: 0 ETH
[](
The Hong Kong Insurance Authority has proposed new regulations aimed at guiding insurance funds into the cryptocurrency assets and infrastructure sector. According to a presentation document dated December 4, the regulator plans to impose a 100% risk capital requirement on cryptocurrency assets, while the risk capital requirement for stablecoin investments will depend on the fiat currency to which the stablecoin is pegged. The Hong Kong Insurance Authority stated that it has initiated a review of the risk capital regime this year, with the primary goal of supporting the insurance industry and broader economic development.
Victory Securities has notified clients that starting from December 19, it will implement "buy prohibition" restrictions on virtual asset accounts identified by the system as originating from "Mainland China" IP addresses. Sources indicate that this is in response to recent measures by the mainland to strengthen regulation of virtual asset trading.
<div data-v-f233673d=)
[]( Implementation of "Buy Prohibition" Restrictions on Virtual Asset Accounts from IP Addresses in Mainland China
Victory Securities has notified clients that starting from December 19, it will implement "buy prohibition" restrictions on virtual asset accounts identified by the system as originating from "Mainland China" IP addresses. Sources indicate that this is in response to recent measures by the mainland to strengthen regulation of virtual asset trading.
<div data-v-f233673d=)[
]( Selected Events in Hong Kong for December
We have specially compiled noteworthy events in the cryptocurrency sector in Hong Kong for December, which will open a window to the future of Web3 for you.
<div data-v-c679a437=)
[Regulation/Macro]( Selected Events in Hong Kong for December
We have specially compiled noteworthy events in the cryptocurrency sector in Hong Kong for December, which will open a window to the future of Web3 for you.
<div data-v-c679a437=)
[]( Whether David Sacks Violated Ethical Standards in Transactions Involving the UAE
The U.S. State Department's independent oversight body is reviewing an investigation request submitted by two Democratic senators to determine whether U.S. envoy Steve Witkoff and White House AI and cryptocurrency advisor David Sacks violated ethical standards in decisions involving the approval of exporting advanced U.S. chips to the UAE. Additionally, concerns have been raised by senators due to the financial ties of both individuals to the cryptocurrency sector in the UAE.
18 bipartisan members of the U.S. House of Representatives have written to the IRS, urging a revision of the current cryptocurrency staking tax rules before 2026 to end the "taxation upon receipt and again upon sale" double taxation mechanism. The letter calls for taxing staking rewards upon sale so that "stakers can be taxed based on a correct representation of their actual economic gains." The lawmakers stated that the current system is suppressing U.S. user participation in staking, which is detrimental to blockchain network security and the competitiveness of U.S. digital assets.
The Indonesian Financial Services Authority (OJK) has released a list of 29 officially licensed cryptocurrency asset trading platforms. The OJK stated that only companies on the list are legally authorized to provide cryptocurrency trading and related services in Indonesia. Additionally, the regulator has also announced 4 licensed digital asset market infrastructure providers, covering exchanges, clearing, and custody services.
Elvira Nabiullina, the Governor of the Central Bank of Russia, stated that the rapid development of the country's Bitcoin mining industry is driving national economic growth and may strengthen the ruble's exchange rate. However, she also acknowledged that it is difficult to "quantify the impact of cryptocurrency mining" due to the significant proportion of illegal and quasi-legal miners in the industry.
<h3 dir=)
[](
Elvira Nabiullina, the Governor of the Central Bank of Russia, stated that the rapid development of the country's Bitcoin mining industry is driving national economic growth and may strengthen the ruble's exchange rate. However, she also acknowledged that it is difficult to "quantify the impact of cryptocurrency mining" due to the significant proportion of illegal and quasi-legal miners in the industry.
<h3 dir=)
[
](
Elvira Nabiullina, the Governor of the Central Bank of Russia, stated that the rapid development of the country's Bitcoin mining industry is driving national economic growth and may strengthen the ruble's exchange rate. However, she also acknowledged that it is difficult to "quantify the impact of cryptocurrency mining" due to the significant proportion of illegal and quasi-legal miners in the industry.
<h3 dir=)
[](
Elvira Nabiullina, the Governor of the Central Bank of Russia, stated that the rapid development of the country's Bitcoin mining industry is driving national economic growth and may strengthen the ruble's exchange rate. However, she also acknowledged that it is difficult to "quantify the impact of cryptocurrency mining" due to the significant proportion of illegal and quasi-legal miners in the industry.
<h3 dir=)
[](
Elvira Nabiullina, the Governor of the Central Bank of Russia, stated that the rapid development of the country's Bitcoin mining industry is driving national economic growth and may strengthen the ruble's exchange rate. However, she also acknowledged that it is difficult to "quantify the impact of cryptocurrency mining" due to the significant proportion of illegal and quasi-legal miners in the industry.
Dylan LeClair, Bitcoin Strategy Director at Metaplanet, tweeted that at the special shareholders' meeting of Metaplanet, five proposals were approved, including the approval to convert capital and capital reserves into capital surplus to increase the ability to pay dividends on preferred shares and potential share buyback capacity; increasing the authorized issuance total of Class A and Class B preferred shares from 277.5 million shares per class to 555 million shares per class; modifying the dividend structure of Class A preferred shares to a monthly floating rate dividend aimed at achieving price stability; modifying Class B preferred shares to a quarterly dividend, adding a 130% issuer redemption clause for 10-year terms, and granting investors put options unless an IPO occurs within one year; and approving the issuance of Class B preferred shares to overseas institutional investors.
Former Aave CTO Ernesto Boado tweeted questioning Aave Labs' move to transfer the "brand asset control to token holders" ARFC proposal to the snapshot version. Boado stated, "Essentially, this is not my proposal. Aave Labs (for reasons unknown) unilaterally rushed to submit my proposal for a vote, which is signed with my name, and I was not notified in advance at all. If I had been consulted, I would never have approved this proposal."
JPYC, the issuer of the yen stablecoin, announced a joint research project with South Korean IT giant ITCEN Global to "explore the possibilities for the future development of stablecoins in Japan and South Korea." The focus of the joint research project is to share information on the current policy review phase in South Korea and obtain useful suggestions from a practical implementation perspective.
The Uniswap fee switch proposal UNIfication has reached the 40 million votes threshold for approval and will take effect this week. As of Monday, the proposal has received nearly 69 million votes in favor, with voting ending on December 25. Once approved, there will be a two-day time lock period, after which the Uniswap v2 and v3 fee switches will be activated on the Unichain mainnet, triggering the destruction of UNI tokens. The proposal will destroy 100 million UNI tokens from the Uniswap Foundation treasury and implement a protocol fee discount auction system to enhance liquidity provider returns.
Jameson Lopp, co-founder of cryptocurrency custody company Casa, tweeted that "quantum computers will not destroy Bitcoin in the short term. We will continue to monitor its development. However, adjustments to protocols (and fund migration) may take 5 to 10 years."
The Museum of Modern Art (MoMA) in New York has added eight CryptoPunks and eight Chromie Squiggles to its permanent collection. These 16 NFT works were all donated rather than purchased and will be displayed alongside video, experimental technology, and other new media art in MoMA's media and performance arts department. Visitors can view these works on the MoMA website.
<div class=)[In-Depth & Outlook
]( CEO: Prediction Markets Should Be Regulated by the CFTC
Coinbase CEO Brian Armstrong tweeted that prediction markets should be regulated by the U.S. Commodity Futures Trading Commission (CFTC), and any state holding an opposing view is hindering Americans from using tools that help enhance their competitiveness.
<h3 dir=)
[]( CEO: Prediction Markets Should Be Regulated by the CFTC
Coinbase CEO Brian Armstrong tweeted that prediction markets should be regulated by the U.S. Commodity Futures Trading Commission (CFTC), and any state holding an opposing view is hindering Americans from using tools that help enhance their competitiveness.
<h3 dir=)[](
A brilliant story without a product may last longer than a good product without a story. However, unless the two intertwine to create a sufficiently large profit margin to sustain survival, there is only one inevitable outcome: extinction.
<div class=)[
Perspective
]( From QE to RMP: How the Federal Reserve Continues to Inject Liquidity with "New Language"
Unfortunately, for most people today, printing money is destroying their dignity as producers. When the government deliberately devalues the currency, it severs the connection between energy input and economic output. Those hard-working "laborers," even if they do not understand complex economic theories, can intuitively feel like they are running in quicksand — they understand that printing money is not a good thing.
<p class=)
[]( From QE to RMP: How the Federal Reserve Continues to Inject Liquidity with "New Language"
Unfortunately, for most people today, printing money is destroying their dignity as producers. When the government deliberately devalues the currency, it severs the connection between energy input and economic output. Those hard-working "laborers," even if they do not understand complex economic theories, can intuitively feel like they are running in quicksand — they understand that printing money is not a good thing.
<p class=)
[]( From QE to RMP: How the Federal Reserve Continues to Inject Liquidity with "New Language"
Unfortunately, for most people today, printing money is destroying their dignity as producers. When the government deliberately devalues the currency, it severs the connection between energy input and economic output. Those hard-working "laborers," even if they do not understand complex economic theories, can intuitively feel like they are running in quicksand — they understand that printing money is not a good thing.
<p class=)
[]( From QE to RMP: How the Federal Reserve Continues to Inject Liquidity with "New Language"
Unfortunately, for most people today, printing money is destroying their dignity as producers. When the government deliberately devalues the currency, it severs the connection between energy input and economic output. Those hard-working "laborers," even if they do not understand complex economic theories, can intuitively feel like they are running in quicksand — they understand that printing money is not a good thing.
Techub News founder Alma recently spoke with Tim, COO of New Fire Technology. As a seasoned builder who entered the industry in 2018, Tim has participated in the core business construction of several leading trading platforms. Now, he joins New Fire as a partner, embarking on a new entrepreneurial chapter from "scale expansion" to "refined services."
