Hong Kong's 'Stablecoin Regulation' will take effect on August 1, and the Monetary Authority has initiated market consultations.

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AI Summary

Hong Kong is about to implement stablecoin regulations, which may promote market compliance and innovation. This move will attract more investors to pay attention to Hong Kong's financial dynamics.

According to reports from Wu, the Hong Kong (Stablecoin Regulation) will take effect on August 1, and the Hong Kong Monetary Authority will begin accepting license applications. Currently, the Monetary Authority has initiated market consultations to implement specific guidelines.
In addition, the Hong Kong Monetary Authority announced that it is leading the G20 Financial Stability Board's review of the (global regulatory framework for crypto asset activities) implementation worldwide.

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Hong Kong's 'Stablecoin Regulation' will take effect on August 1, and the Monetary Authority has initiated market consultations.

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