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 January 5 to January 11, 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
According to Wen Wei Po, Hong Kong licensed virtual asset trading platform EX.IO announced that it has officially received approval from the Hong Kong Securities and Futures Commission to conduct off-platform virtual asset trading services under the existing virtual asset trading platform license framework. The platform has now officially launched its off-platform trading channel…
Global Web3 Developer Conference 2026 to be Held in Hong Kong
Hosted by Web3Labs and co-hosted by Techub News, the "Global Web3 Developer Conference 2026" will take place on February 8-9, 2026, at Cyberport in Hong Kong. This is a comprehensive Web3 event centered around developers, focusing on the spirit of "For Builders, By Builders"…
According to Wen Wei Po, Fan Wenzhong, Vice President of the Beijing Academy of Social Sciences and Executive Director of the China Financial Society, published an article stating that CBDCs represented by digital renminbi and new payment tools represented by Hong Kong compliant stablecoins are reshaping the new paradigm of cross-border payments from different paths…
Hong Kong Securities and Futures Commission Convicts China All Access Holdings for False Trading
The Hong Kong Securities and Futures Commission announced that the Sha Tin Magistrates' Court found Wang Yulan, former executive manager of China All Access (Holdings) Limited, guilty of "false trading" regarding the company's shares. The announcement stated that the defendant conducted transactions in the minutes before the market closed from December 29 to 31, 2014…
The Hong Kong Securities and Futures Commission announced that Saxo Financial (Hong Kong) Limited violated regulatory provisions during the distribution of virtual asset-related products, resulting in public condemnation and a fine of HKD 4 million…
ARM, Baidu's AI Chip Company, Plans IPO in Hong Kong, Raising Up to USD 2 Billion
According to Jinshi, ARM, Baidu's AI chip company, is planning to conduct an initial public offering (IPO) in Hong Kong, with a fundraising scale of up to USD 2 billion…
According to Wen Wei Po, there is new progress in the unlicensed virtual asset trading platform JPEX fraud case, where two defendants are involved in money laundering totaling approximately HKD 26.4 million, and the related cases have been brought to the regional court in two separate hearings…
Derin Holdings' Derin Securities (Hong Kong) Limited is about to connect and test with the system of the licensed virtual asset trading platform of the Hong Kong Securities and Futures Commission and plans to start providing virtual asset trading services in February this year…
According to Hong Kong Commercial Daily, Hong Kong Financial Secretary Chan Mo-po stated during a program today that virtual currency is part of financial innovation, and Hong Kong should embrace it. However, the confidentiality of blockchain technology may pose risks such as insufficient investor protection, affecting anti-money laundering efforts, and threatening financial stability…
Hong Kong's New Financial Budget Will Be Released on February 25
Hong Kong's Financial Secretary Chan Mo-po announced in a blog that the new financial budget will be released on February 25. Benefiting from a booming financial market, overall revenue, including stamp duty, has increased, allowing the government to restore its operating accounts to surplus ahead of schedule…
Industry Observation
The Resistance of the U.S. Banking Industry: The Endless Debate on Interest Payments for Stablecoins
According to the GENIUS Act, stablecoin issuers are prohibited from paying interest to stablecoin holders.
However, currently, Coinbase is offering a 3.35% reward to users holding USDC on its platform. This is possible because the GENIUS Act only prohibits issuers from paying interest and does not impose restrictions on distributors.
Nevertheless, a debate on "whether the ban on stablecoin interest payments should extend to the distribution stage" has fully unfolded ahead of the U.S. Senate committee's review of the "Crypto Market Structure Act" on January 15, which aims to systematize cryptocurrency regulation.
Following the internal conflict between Aave Labs and DAO, another governance dispute has shaken the industry.
On January 8, Josh Swihart, CEO of Electric Coin Company (ECC), the core developer of Zcash, tweeted that in recent weeks, due to serious "divergence" in governance direction between the non-profit organization Bootstrap, which is responsible for ECC governance, and its board members Zaki Manian, Christina Garman, Alan Fairless, and Michelle Lai (ZCAM), the ECC team has collectively resigned and plans to establish a new company.
Overview of China's Payment Regulation: Compliance Boundaries and Business Opportunities
The payment system, as a core component of modern financial infrastructure, is not only the blood vessel and bond of economic transactions but also directly relates to financial stability, social order, and the well-being of the people. China's payment regulatory system adheres to the core concept of "development and regulation go hand in hand," gradually establishing a regulatory framework led by the People's Bank of China (PBOC), with multi-department collaboration, full coverage, multi-layered, and three-dimensional regulation, covering five major areas: comprehensive regulation, account management, non-cash payment tools, payment systems, and payment institutions.
How Will the New Central Bank Regulations Change Your Payment Experience?
On December 31, 2025, the People's Bank of China released the "Management Measures for the Classification and Rating of Non-Bank Payment Institutions," marking the official start of a deep transformation in China's payment industry. This new regulation, set to be implemented on February 1, 2026, aims to reshape the survival logic of over two hundred payment licenses through a sophisticated "classification and rating" system.
However, the ripples of this transformation extend far beyond traditional QR code payments and online transfers. For the digital asset sector, especially "real-world assets" (RWA) seeking deep integration with the real world, the profound significance of this new regulation is even more pronounced. A standardized, highly credible legal payment network is an indispensable "highway" for the compliant circulation and value realization of digital assets. The central bank's comprehensive inspection and graded management of payment institutions essentially lay a solid foundation of compliance and trust for broader digital financial innovation in the future.
Data Insights
Hong Kong Bitcoin & Ethereum Spot ETF Inflows and Outflows
According to ichaingo data statistics, last week, the subscription and redemption volume of Hong Kong Bitcoin spot ETFs was 0 units, with a total ETF holding value of approximately USD 346 million, an increase of about USD 9 million in holding value; the subscription and redemption volume of Ethereum spot ETFs was also 0 units, with a total ETF holding value of approximately USD 100 million, an increase of about USD 3.85 million in holding value.
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