天津："十五五"全力打造数字经济国际合作"天津样板" 广告等商务合作，请点击这里 二是提升企业"出海"服务能级。打造"数字经济企业出海综合服务港"，依托产业服务机构、商协会等资 源，围绕人才交流、金融服务、便捷通关、法律咨询、产品推介等方面提供服务，解决企业"出海"难 点，构建"出海"综合服务生态。 三是推进数据高效便利安全跨境流动。完善数据跨境线上服务平台和线下服务中心，为企业提供政策咨 询、合规评估、安全保障等全链条服务。依托天津自贸区数据跨境先行先试优势，围绕气象、海洋、医 药、机器人等细分领域制定数据跨境流动负面清单2.0版，营造更为安全高效的跨境流动环境。 四是深化数字人才国际合作。依托中国—上合组织数智化应用联合实验室、鲁班工坊等载体，聚焦人工 智能、大数据、区块链、跨境电商等领域，推动标准规范对接、学科交叉融合与资源共享，通过人才联 合培养和科研协同创新，为上合组织数字经济发展提供智力支持和人才保障。(完) 来源：中国新闻网 编辑：张嘉怡 中新网天津12月9日电 (记者 周亚强)天津市政府新闻办9日举行高质量完成"十四五"规划系列主题新闻 发布会——市数据局专场。天津市数据局局长邓光华表示，"十 ...

Core Insights - The global cryptocurrency market is experiencing accelerated regulatory measures alongside market risk management, with significant developments in both domestic and international contexts [1][7][10]. Domestic Developments - The Hong Kong Securities and Futures Commission (SFC) plans to expand the product and service scope of licensed virtual asset trading platforms, including the removal of the 12-month track record requirement for professional investors [2][3]. - The People's Bank of China (PBOC) is exploring new cross-border payment solutions using digital RMB, emphasizing compliance and interoperability [4]. - Taiwan is considering Bitcoin as a strategic reserve and plans to draft supportive regulations [5]. - The Ministry of Industry and Information Technology and other departments are encouraging the use of AI and blockchain technologies to enhance consumer experiences [6]. - The PBOC held a meeting to coordinate efforts against virtual currency trading speculation, emphasizing that virtual currencies do not have the same legal status as fiat currencies [6]. International Developments - The U.S. Commodity Futures Trading Commission (CFTC) is expected to allow stablecoins as acceptable collateral in the derivatives market, with policy details anticipated early next year [7][8]. - The U.S. Senate Banking Committee plans to vote on a cryptocurrency market structure bill in December, aiming to clarify regulatory boundaries between the SEC and CFTC [9]. - The European Central Bank warns of cross-border regulatory arbitrage risks associated with stablecoins, calling for a unified global regulatory framework [10]. - The UK tax authority requires cryptocurrency exchanges to collect and report transaction data from UK customers starting January 2026 [11]. Security Incidents and Trends - In November, approximately $172.4 million was lost due to security incidents in the cryptocurrency sector, with phishing scams accounting for the highest percentage of losses [1][26]. - Notable security events include a $113 million loss from a hack on the Balancer protocol and a $36.8 million loss from an attack on Upbit [26][27]. Legal Cases and Enforcement - A court in Zhejiang concluded a case involving over 5 million yuan related to USDT and information network crime [12][13]. - In Hong Kong, police have arrested 16 individuals linked to the JPEX case, with total losses exceeding 1.6 billion HKD [14][15]. - A report on a major Bitcoin theft incident from 2020 suggests involvement by a state-level hacking organization [18][19].

作者丨律新社研究员 李德胜 出品丨律新社研究中心 数字货币正成为犯罪新"蓝海"？ 数字货币网络诈骗正不断升级：高智商化、专业化、跨国化。虚拟货币交易链路难以追踪、跨境取证固证复杂、涉案财产查扣困难，数字货币一旦进入维 权纠纷，也往往成为法律服务的难点。 据区块链信息平台PANews发布的《2025年全球稳定币产业发展报告》显示，截至2025年7月，稳定币总市值突破2500亿美元，年转账额达36.3万亿美元， 已超越Visa与万事达的年交易总额。这一数据标志着一个历史性转折：数字货币正从极客圈的实验品跃升为主流金融工具。然而，技术与金融的碰撞往往 伴随风险的几何级数增长。 与此同时，全球监管框架加速成型。美国通过《GENIUS法案》、香港实施《稳定币条例》，中国内地检察机关推动USDT交易异常监测机制。监管与犯 罪的赛跑，催生了一片法律服务的蓝海，但这片海域并非风平浪静，而是暗流涌动。 律新社研究中心近日在调研中了解到，数字货币业务律师正在成为新业务"标签"，而能否在其中乘风破浪，取决于对趋势的洞察、对技术的理解，以及对 跨域合规的驾驭力。与此同时，多家律所已经布局"数字货币研究中心"，一场看不见硝烟的法律与金 ...

来源：新浪证券-红岸工作室 12月9日，数码视讯跌2.34%，成交额1.51亿元，换手率2.15%，总市值77.43亿元。 异动分析 数据确权+区块链+云计算+网络安全+互联网金融 1、2021年年报显示：子公司快视听致力于利用区块链技术赋能行业，拓展公司相关技术在元宇宙发展 中的应用。旗下洞壹元典平台通过发行数字藏品，充分发挥区块链底层技术防篡改、可验证的属性，面 向文化艺术、音乐、时尚潮玩、零售等领域，为数字内容提供新的确权和版权证明。并通过数字藏品这 一载体，创造全新的数字内容销售、传播、品牌营销的模式。进一步在数字艺术品收藏、粉丝经济、元 宇宙数字资产等核心业务场景中发挥确权价值。 2、2018年年报披露：数码科技在版权保护与新技术结合方面做了许多前沿探索,在通过对版权内容加 密、加水印技术保护同时，研究基于区块链的数字版权管理技术。此研究能够保证软件发行的授权,作 者对每一个自己著作权的版权控制则能够变得更加的严格。相较于传统模式而言,基于区块链的版权管 理技术有及时确权、点对点通信、归属权明晰的优点。 3、2023年2月2日互动易：公司拥有融合云视频平台方案，立足于视频云计算SaaS的综合服务，汇 ...

在多元投资策略中，具备独到的理念和稳健的业绩表现，才能成为业界瞩目的焦点。近日，北京止于至 善投资管理有限公司(以下简称"止于至善")总经理何理在接受《证券日报》记者专访时表示，回顾创业 至今的投资历程，坚持深耕全球私募投资逾十年，始终秉持只以"合理价格"和投资"卓越公司"的核心原 则，不断优化投资策略，构建科学严谨的投资体系，才能取得优异的产品业绩。 所谓"合理价格"和"卓越公司"，何理认为，卓越公司应同时具备竞争力强、成长性高、价值创造大的特 点；而合理价格则是在对上市公司进行理性估值后，有一定折扣时的价格。这一理念在全球市场均具有 可行性。 何理同时表示，本公司投研团队采用扁平化管理与交叉研究模式，所有数据共享，投研效率高。这种结 构适合持续运营全球价值投资策略，鼓励研究员"畅所欲言"和"劳有所得"。交叉研究和重复研究增加了 研究广度与深度，许多股票因研究员个人兴趣而产生"意外的惊喜"。 截至目前，止于至善实现了港、美、韩、日等多市场布局，美股敞口占比较高。不同市场的资产定价逻 辑与风险特征各异，但投资组合是自下而上构建的，不会刻意调整结构或整体择时。这种策略确保了组 合的稳定性和灵活性。 "从英伟达的 ...

Group 1 - The core viewpoint is that Maibach Investment Co., Ltd. aims to promote blockchain technology innovation and application in Zhejiang to support the development of the digital economy and industrial transformation [1][3] - Blockchain technology is characterized by decentralization, traceability, and immutability, offering unique advantages in enhancing government efficiency, optimizing supply chain management, and ensuring data security [1][3] - Zhejiang is positioned as a leading area for digital economy development in China, with a favorable technological foundation and policy environment for the deep application of blockchain technology [1][3] Group 2 - Maibach Investment will collaborate with local governments, enterprises, and research institutions to explore the application of blockchain technology in the real economy, focusing on digital transformation of SMEs, transparency in public services, and green low-carbon development [3] - The company emphasizes that blockchain is not just a technological tool but also an important infrastructure for promoting social collaboration and value sharing [3] - Recent investments in the digital economy by Zhejiang have led to a gradually improving blockchain industry ecosystem, with active participation from enterprises and investment institutions expected to accelerate the implementation of blockchain technology in the real economy [3] Group 3 - Maibach Investment Co., Ltd. focuses on investment and incubation in technology innovation, green economy, and industrial upgrading, aiming to drive the realization of socially valuable innovative projects through capital empowerment and technological integration [3]

Core Viewpoint - HashKey Holdings is planning a global offering of approximately 241 million shares, with a price range of HKD 5.95 to 6.95 per share, aiming to raise around HKD 14.264 billion if the midpoint price is applied [2][13]. Group 1: Offering Details - The company intends to offer about 24.057 million shares in Hong Kong and approximately 217 million shares internationally, with the offering period set from December 9 to December 12, 2025, and the expected pricing date on December 15, 2025 [2]. - The shares will be traded in lots of 400 shares, with J.P. Morgan and Guotai Junan International acting as joint sponsors [2]. - A cornerstone investment agreement has been established, with cornerstone investors agreeing to subscribe for shares totaling USD 75 million (approximately HKD 584 million) under certain conditions [2]. Group 2: Company Overview - HashKey provides a licensed digital asset platform offering trading facilitation, on-chain services, and asset management, and has launched HashKey Chain, a scalable Layer 2 infrastructure [4]. - The company is recognized as the largest regional onshore platform in Asia by trading volume as of 2024, and it is also the largest on-chain service provider and digital asset management institution in Asia by staked assets [4][5]. - As of September 30, 2025, HashKey's platform supports 80 types of digital asset tokens, including major Layer-1 assets and DeFi tokens [5]. Group 3: Financial Performance - HashKey's revenue sources include trading facilitation, on-chain services, and asset management, with significant growth in trading volumes from HKD 4.2 billion in 2022 to HKD 328 billion in 2023 [11][13]. - The company recorded revenues of HKD 129 million, HKD 208 million, and HKD 721 million for the years 2022, 2023, and 2024, respectively, indicating rapid expansion in trading facilitation services [11]. - As of August 31, 2025, HashKey held HKD 1.657 billion in cash and cash equivalents, along with HKD 592 million in digital assets, with 84% of the digital assets being mainstream tokens [12]. Group 4: Use of Proceeds - The company plans to allocate approximately 40% of the global offering proceeds for technology and infrastructure upgrades, another 40% for market expansion and ecosystem partnerships, and the remaining 20% for operational and risk management as well as general corporate purposes [14].

中国国际经济交流中心副理事长王一鸣在主旨演讲中强调，京港深化金融合作，对巩固和提升香港国际 金融中心地位、助力构建"双循环"新发展格局意义重大。他建议从五个方面探索深化合作路径：一是合 作发展科技金融；二是探索跨境资管合作；三是协同推进人民币国际化；四是强化优势互补提升各自竞 争力；五是加强金融监管协同，筑牢金融安全防线。 来源：环球网 【环球网财经综合报道】日前，"深化京港协同，赋能金融高水平开放——资产管理行业在'十五五'开 放格局下的发展机遇"金融街论坛系列活动在北京成功举办。本次活动在北京市地方金融管理局、北京 金融街服务局的指导下，由北京资产管理协会与港大经管学院华北校友会共同主办。 北京资产管理协会会长、工银理财有限责任公司总裁高向阳表示，北京资产管理协会自成立以来，始终 以"推动资管行业高质量发展、搭建跨区域交流合作平台"为核心使命，本次活动正是协会立足"十五 五"战略窗口期，助力京港金融"双中心"协同、服务金融高水平开放的重要实践。高向阳指出，当前， 我国正处于"十四五"规划圆满收官与"十五五"规划谋篇布局的关键交汇期，金融领域正从"要素型开 放"向"制度型开放"进阶，构建适配我国经济地位、兼 ...

Group 1 - HashKey Holdings plans to conduct an initial public offering (IPO) from December 9 to 12, 2025, aiming to globally offer 241 million shares, with approximately 10% allocated for public sale in Hong Kong and 90% for international sale, along with a 15% over-allotment option [1] - The expected price range for the shares is between HKD 5.95 and HKD 6.95, with trading anticipated to commence on the Hong Kong Stock Exchange on December 17 [1] - The company operates a licensed digital asset platform providing trading facilitation, on-chain services, and asset management, and is recognized as the largest regional onshore platform in Asia by trading volume for 2024 [1] Group 2 - The net proceeds from the global offering, assuming no exercise of the over-allotment option and a mid-point share price of HKD 6.45, are estimated to be approximately HKD 14.26 billion [2] - Approximately 40% of the net proceeds will be allocated for upgrading technology and infrastructure over the next three to five years, with 22% specifically for enhancing product development capabilities [2] - The company plans to use about 10% of the proceeds over the next three years for procuring cloud services from external quality cloud providers and upgrading its systems [2]

Core Viewpoint - HashKey Holdings plans to conduct a global offering of 241 million shares, with a price range of HKD 5.95 to 6.95 per share, aiming to raise approximately HKD 14.26 billion in net proceeds [1][2]. Group 1: Offering Details - The global offering consists of approximately 10% for public sale in Hong Kong and 90% for international sale, with an additional 15% over-allotment option [1]. - The shares are expected to commence trading on December 17, 2025, at 9:00 AM Hong Kong time [1]. Group 2: Business Overview - HashKey Holdings operates a licensed digital asset platform providing trading facilitation, on-chain services, and asset management [1]. - The company is recognized as the largest regional onshore platform in Asia by trading volume for 2024, and also leads in on-chain services and digital asset management by assets under management [1]. Group 3: Strategic Partnerships - The company has entered cornerstone investment agreements with several major investors, including UBS AM Singapore and Fidelity, totaling USD 75 million in share subscriptions [2]. - Assuming a mid-range offer price of HKD 6.45, cornerstone investors are expected to acquire approximately 90.54 million shares [2]. Group 4: Use of Proceeds - Approximately 40% of the net proceeds will be allocated to upgrading technology and infrastructure over the next three to five years, with specific allocations for product development, cloud services, talent acquisition, and IT security [3]. - Another 40% will be used to expand the operational team, enhance brand awareness, and establish ecosystem partnerships [3]. - About 10% will be directed towards improving operational and risk management, including legal and compliance team expansion [3]. - The remaining 10% will be reserved for working capital and general corporate purposes [3]. Group 5: Performance Metrics - The company's trading volume surged from HKD 4.2 billion in 2022 to HKD 328 billion in 2023, and is projected to reach HKD 638.4 billion in 2024 [4]. - The number of registered customers increased dramatically from 18 in 2022 to 1.37 million by the end of 2024, reflecting the rapid expansion of the trading platform [4]. - The number of asset-holding clients rose from zero in 2022 to 138,500 by mid-2025, indicating significant growth in client engagement [4].