Core Insights - The "Xinhua International Financial Center Development Index (2025)" has been released, indicating a stable overall pattern for international financial centers, with the top ten cities being New York, London, Shanghai, Hong Kong, Singapore, Tokyo, Beijing, Shenzhen, Paris, and Frankfurt [1][8] - The index evaluates 45 sample cities based on five dimensions: financial market, growth development, industrial support, service level, and national environment, and has been published for fifteen consecutive years [1][8] Summary by Categories Overall Ranking - In 2025, the ranking of international financial centers remains stable, with 22 out of 45 cities maintaining their positions; New York, London, and Shanghai continue to hold the top three spots [2][10] - The cities with the largest upward movement in rankings are Luxembourg, Mumbai, Vienna, and Rome, each rising by three positions; Seoul and Montreal experienced the largest declines, each dropping by four positions [2][11] Sub-Index Performance - In the financial market sub-index, New York and London have held the top two positions for four consecutive years, while Paris improved from ninth to seventh place [4][13] - Shanghai has ranked first in the growth development sub-index for fifteen years, with New York and London in second and third, respectively; Singapore moved up from sixth to fifth [4][13] - In the industrial support sub-index, Frankfurt rose from thirteenth to ninth, while Chicago fell from eighth to tenth [4][13] - The service level and comprehensive environment sub-indices show overall stability with minimal changes [4][13] Regional Insights - Shanghai, Hong Kong, and Singapore continue to lead in the comprehensive index, while Beijing and Shenzhen show significant potential in growth development and industrial support [4][13] - The Asia-Pacific region is characterized by high growth potential, particularly in technology innovation and green transformation, becoming a key driver of global financial development [4][13][6] Trends and Future Outlook - The development of global financial centers is marked by distinct trends, with fintech, digital currency, and climate financing emerging as core issues reshaping global financial governance and investment patterns [6][14] - Each financial center is leveraging its unique resources for targeted development: New York and London as comprehensive centers, Shanghai attracting global financial resources, Hong Kong focusing on asset and wealth management, and Singapore enhancing its shipping finance ecosystem [6][14] - The report emphasizes the importance of open cooperation among financial centers to foster mutual benefits and sustainable economic recovery [7][14]

Core Viewpoint - Coinbase is warning that restrictions on stablecoin interest in the U.S. could inadvertently benefit China, especially as China prepares to allow interest on its digital currency starting early next year [1][4]. Group 1: Current Regulations and Responses - The GENIUS Act prohibits U.S. stablecoin issuers from paying interest directly to users, but some platforms are using workarounds to offer rewards without violating the law [2]. - Banking groups are advocating for regulators to eliminate these workaround options, arguing that they could destabilize traditional banking systems by diverting funds from banks [2][6]. Group 2: Innovation and Market Impact - Crypto firms argue that the push for stricter regulations goes beyond lawmakers' original intentions and could stifle innovation within the industry [3]. - If U.S. regulators enforce a ban on yield from stablecoins, it may lead to a decrease in competitiveness for U.S. stablecoins, particularly as other countries, like China, offer more attractive digital currency options [8]. Group 3: Global Implications - Coinbase's policy team warns that tightening rules around stablecoin rewards could drive users and businesses to seek alternatives, potentially diminishing the global appeal of dollar-backed tokens [4][5]. - The anticipated interest on China's digital yuan could make it a more appealing option for both transactions and long-term investments compared to U.S. stablecoins that do not offer yields [5].

Core Insights - Visa Inc. has launched a scam disruption initiative to combat fraudulent activities [1] - The adoption of Visa's "Tap to Phone" technology has significantly increased [1] - The company has presented its vision for artificial intelligence (AI) in commerce [1] - Visa has expanded its capabilities in the digital currency sector [1]

Market Overview - The three major indices showed mixed performance in early trading, with the Shanghai Composite Index down 0.1%, the Shenzhen Component Index up 0.23%, and the ChiNext Index down 0.06% [1] - The total trading volume in the Shanghai and Shenzhen markets reached 1.3039 trillion yuan, a decrease of 103.9 billion yuan compared to the previous day [1] - Over 2,700 stocks in the market experienced declines [1] Sector Performance - Sectors showing gains included gaming, film and AI applications, engineering machinery, cross-border payments, humanoid robots, pork, and semiconductors [1] - The Hainan Free Trade Zone, wind power equipment, insurance, photovoltaic equipment, and airport and shipping sectors saw significant declines [1] Notable Stocks - In the gaming and film sectors, stocks such as Baidu Qiancheng, Jinyi Film, and Hubei Broadcasting reached their daily limit [1] - Cross-border payment and digital currency concept stocks were active, with Cuiwei Co. hitting the limit [1] - The liquid cooling server sector also performed well, with Dingtong Technology, Tongxing Technology, and Shuo Beid leading the gains [1] - Humanoid robots, commercial aerospace, and semiconductors showed fluctuations during the trading session [1] Declining Stocks - The Hainan Free Trade Zone sector faced early declines, with stocks like Hainan Development, Xinlong Holdings, and Luoniushan experiencing downturns [1] - The retail sector also performed poorly, with Baida Group hitting the limit down, followed by declines in Yinzou Co., Maoye Commercial, and Dongbai Group [1]

Group 1 - Standard Chartered's Geoffrey Kendrick has issued a bullish price prediction for XRP, forecasting it to reach $8 by 2026, representing a potential increase of 330% from its current price of $1.86 [1][6][7] - The positive outlook is attributed to the SEC dropping its appeal against Ripple and the approval of spot exchange-traded funds (ETFs) linked to XRP, which have seen significant inflows [1][4][5] - The legal battle between the SEC and Ripple concluded in July 2023, with the court ruling that Ripple's programmatic sales of XRP on exchanges do not constitute securities transactions, although sales to institutional players were deemed a violation [2][3] Group 2 - Following the legal resolution, several companies, including Franklin Templeton and Greyscale, launched spot XRP ETFs in the U.S., which have collectively attracted $1.14 billion in new inflows as of December 26 [5] - The regulatory clarity surrounding XRP as a financial asset has contributed to the optimistic price projection by Kendrick, highlighting the importance of regulatory developments in the cryptocurrency market [6]

Core Insights - The multilateral central bank digital currency bridge project is being advanced by eight departments, accelerating the application of blockchain technology in cross-border finance [1] - Blockchain's distributed architecture is reshaping the cross-border payment landscape, with transaction processing times reduced to 6-9 seconds, achieving over a thousand times efficiency improvement compared to traditional methods [1] - As of December 25, 2025, China has registered 74,600 blockchain-related enterprises, surpassing the total for 2023 and marking a record high in the past five years [4][7] Registration Data - The number of registered blockchain-related enterprises in China has been increasing annually since 2020, reaching a peak of 63,200 in 2023 [4] - In the first eleven months of 2025, 68,000 new enterprises were registered, representing a 36.1% increase compared to the same period in 2024 [4] Regional Distribution - Among the newly registered 74,600 blockchain-related enterprises in 2025, over 30% are from South China, accounting for 32.5%, followed by East China at 27.0%, while the Northwest region has the least representation at 3.9% [7] Enterprise Stock - The stock of blockchain-related enterprises in China has been steadily increasing over the past decade, with a significant acceleration in growth starting in 2019, surpassing 200,000 for the first time in 2023, reaching 207,600 [11] - As of December 25, 2025, there are currently 289,400 blockchain-related enterprises in China [11]

Group 1 - Blockchain Venture Capital Inc. has completed its non-brokered private placement, raising a total of C$470,000 from arm's-length investors [2][8] - The company issued 1,566,667 common shares at a price of C$0.30 per share and 1,566,667 common share purchase warrants, each exercisable at C$0.35 per share [8] - The net proceeds from the private placement will be utilized for general working capital and repayment of prior accounts payable, including accrued interest on outstanding loans [2] Group 2 - The company has settled certain outstanding consulting fees through the issuance of common shares, including C$50,000 in fees settled with ZTBY Consulting and Advisory Ltd. through 333,333 common shares at a deemed price of C$0.15 per share [8] - Additionally, Ms. Wenhong Fan's outstanding consulting services were settled through the issuance of 20,000 common shares at a deemed price of C$0.15 per share [8] - All securities issued are subject to applicable statutory hold periods and Canadian Securities Exchange acceptance [3] Group 3 - Blockchain Venture Capital Inc. is registered as a Money Services Business (MSB) with FINTRAC and provides blockchain-based financial infrastructure [4] - The company is developing CADT, a Canadian dollar-backed stablecoin intended for payments, settlements, digital-asset issuance, and ledger services, pending necessary regulatory approvals [4] - Other services offered by the company include BVC Chain, a proprietary blockchain platform, BvcPay, a mobile wallet for digital transactions, and Trillium Coin, a bitcoin OTC trading service [8]

🇪🇺 LATEST: The European Central Bank has completed its preparatory work on the digital euro.The digital euro expected to launch in the second half of 2026. ...

Core Insights - The European Central Bank (ECB) has completed technical and preparatory work on the digital euro, now awaiting action from political institutions [1] - ECB President Christine Lagarde emphasized a meeting-by-meeting approach to interest rate decisions, based on economic data and inflation outlook [2] - Inflation is projected to return to the ECB's target of 2% by 2028, with revised projections showing an average of 2.1% in 2025 [3] Digital Euro Development - The digital euro aims to provide a stable public digital payment method, with urgency for EU institutions to adopt the necessary regulations [4] - Initial expectations for the digital euro launch were set for the second half of 2026, aligning with other euro-backed stablecoin initiatives [5] - The ECB has updated its timeline, planning for potential issuance by 2029, contingent on regulatory adoption by 2026, with preparatory steps starting as early as mid-2027 [6]

弱弱的说一句Hashkey香港有各种限制没做起来可以理解那Hashkey 全球呢？没有任何限制做了一两年了全站日交易20WU是啥原因呢？ https://t.co/74hgPLjq2MChris Lee (@ViewsOfChris):看了推友发给Hashkey董事长的公开信。无奈的是香港监管、合规的要求和行业的需求有巨大的鸿沟。导致很多业务没法执行，过度监管伤害行业。其实日本就是其中一个例子。本来日本是第一个大国发行数字货币交易所牌照，结果合规成本和税等毁了这个行业，现在还有谁记得Bitflyer… ...