Hong Kong Web3 Weekly Highlights: The Hong Kong Monetary Authority stated that cryptocurrency asset institutions providing services under the name of "bank" in Hong Kong may be in violation of the law.

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Hot Updates

Leung Fung-yee: The Hong Kong Securities and Futures Commission is focusing on the blockchain technology behind virtual assets.

Hong Kong's Deputy Financial Secretary, Wong Wai-lun: Web3 companies from Europe, America, and Australia have a strong interest in expanding their business in the Hong Kong market.

Hong Kong Legislative Council member, Wu Kit-chong: Hong Kong has sufficient conditions to become the Web3 center of Asia.

ZA Bank has been selected for the Fortune 2024 Asia Fintech Innovators list, being the only digital bank from Hong Kong to be included.

The Hong Kong Stock Exchange will launch a series of virtual asset indices.

Hsu Cheng-yu: A draft regulation will be submitted to the Legislative Council within this year to regulate fiat-backed stablecoin issuers.