Web3 Weekly: Hong Kong Advances Digital Asset Development, Mastercard Deepens Encryption Strategy

macro trend

The Hong Kong SAR Government has released the "Hong Kong Digital Asset Development Policy Declaration 2.0," focusing on practical applications and ecosystem development, reaffirming its determination to make Hong Kong a global hub for digital asset innovation. This Policy 2.0 version has been elaborated based on the first declaration issued in October 2022, demonstrating Hong Kong's ongoing advancement in the Web3 field.

Payment giant Mastercard has announced the provision of on-chain cryptocurrency purchase services, further promoting the mainstreaming of crypto payments. In recent years, the company has deepened its encryption strategic layout, moving from experimental exploration to practical implementation, becoming a key part of its global financial landscape.

The geopolitical situation in the Middle East has undergone a significant shift, leading to drastic fluctuations in Bitcoin prices. This event once again highlights the sensitivity of the cryptocurrency market to global political and economic events.

AI and the integration of Web3

With the rapid development of AI technology, Web3 projects are actively exploring how to integrate AI into their ecosystems. Regardless of the path the project takes, it ultimately needs to enter the collaborative logic of AI, utilizing AI to enhance competitiveness and efficiency.

Information Financialization (InfoFi) is an emerging concept that is attracting attention in the industry. It is based on technologies such as blockchain, token incentives, and AI empowerment, aiming to reshape the value of attention and represents a shift in underlying paradigms.

investment opportunity

Multiple early airdrop opportunities have emerged in the Solana ecosystem, attracting the attention of investors. At the same time, cryptocurrency concept stocks have sparked a wave of enthusiasm in the US stock market, with companies like Circle and MicroStrategy standing out.

Base chain has recently made significant progress, including deep integration with Coinbase and a pilot project with JPMorgan. These developments bring new opportunities for projects within the ecosystem.

Industry Trends

The Celestia project has recently faced multiple criticisms, including controversies over executives cashing out, profit transfers, and manipulation of public opinion. Although the project team denies these allegations, both the ecosystem's activity and the token's performance have shown a significant decline, and the modular narrative is facing severe challenges.

Jump Crypto is attempting to transition from a giant in encryption quantification to an infrastructure builder, actively participating in lobbying for cryptocurrency policy in the United States. This shift reflects the industry's emphasis on long-term development and compliance.

In terms of investment risks, a scam involving "discount token OTC" caused losses of about 50 million USD, highlighting the importance of risk management within the industry. At the same time, a platform called Huiwang Payment has attracted regulatory attention due to its involvement in a large amount of USDT circulation, reflecting the severity of anti-money laundering and compliance issues.

Regulation and Compliance

Guotai Junan International has been approved to provide cryptocurrency and other virtual asset trading services, marking the gradual entry of traditional financial institutions into the encryption field.

The central bank and six other departments encourage pilot areas to promote digital renminbi in the consumption field, demonstrating China's continued efforts in developing central bank digital currency.

Barclaycard, a subsidiary of Barclays Bank, announced a ban on users using their credit cards for cryptocurrency transactions, reflecting the cautious attitude of traditional financial institutions towards digital assets.

These developments indicate that the global cryptocurrency industry is undergoing a rapid transformation period, with regulatory policies, technological innovations, and market dynamics profoundly influencing the future direction of the industry.