稳定币监管
48,191 views
42 Discussing
Hot
Latest
See original
A user lost 140 ETH due to address poisoning, resulting in a loss of approximately $636,000
According to BlockBeats, on August 15, Scam Sniffer reported that one hour ago, a victim lost 140 ETH, valued at $636,559, by copying an incorrect address from a contaminated transaction history.
Address poisoning attackers make forged wallet addresses appear in the target's transaction history by sending small transactions (usually zero-value or microscopic 'dust' transactions) to the target wallet. The forged addresses are very similar to the user's commonly used addresses, enticing the user to make mistakes while copying and pasting the address, sending funds to the attacker's address. #稳定币监管 #稳定币法案 $ETH
According to BlockBeats, on August 15, Scam Sniffer reported that one hour ago, a victim lost 140 ETH, valued at $636,559, by copying an incorrect address from a contaminated transaction history.
Address poisoning attackers make forged wallet addresses appear in the target's transaction history by sending small transactions (usually zero-value or microscopic 'dust' transactions) to the target wallet. The forged addresses are very similar to the user's commonly used addresses, enticing the user to make mistakes while copying and pasting the address, sending funds to the attacker's address. #稳定币监管 #稳定币法案 $ETH
See original
Circle received the first batch of MiCA legal licenses. Can it challenge Tether's stablecoin hegemony?
Stablecoin issuer Circle has become the first company to obtain authorization under the EU's MiCA legal framework to sell its USDC stablecoin services across Europe.
The introduction of the MiCA policy aims to regulate and supervise the operations of digital asset businesses, and Circle’s compliance marks its leading position in the field.
Circle gets approval to sell USDC stablecoin in Europe
Circle CEO Jeremy Allaire announced that Circle Mint France has been granted an Electronic Money Institution (EMI) license by the French regulator and will be responsible for managing the issuance of EURC and USDC to serve European users.
The introduction of the MiCA policy aims to regulate and supervise the operations of digital asset businesses, and Circle’s compliance marks its leading position in the field.
Circle gets approval to sell USDC stablecoin in Europe
Circle CEO Jeremy Allaire announced that Circle Mint France has been granted an Electronic Money Institution (EMI) license by the French regulator and will be responsible for managing the issuance of EURC and USDC to serve European users.
See original
The Landscape of Stablecoins: The War of Channels
In the ever-changing crypto market, stablecoins serve as a crucial bridge between traditional finance and the crypto economy. Recent events in the crypto market have pushed stablecoins into the spotlight, prompting a reevaluation of their survival logic and competition rules.
On the evening of April 2, Sun Yuchen revealed that the Hong Kong trust company First Digital Labs caused the price of its issued stablecoin FDUSD to plummet to $0.87, severely depegging. This not only panicked holders but also raised questions about the stability and trustworthiness of stablecoins within the crypto community. Binance, as the main trading platform for FDUSD, quickly responded with a 1:1 redemption guarantee, stabilizing market sentiment and allowing the price to re-peg. Without Binance's endorsement, FDUSD might have gone unnoticed, highlighting the importance of channels for stablecoins.
On the evening of April 2, Sun Yuchen revealed that the Hong Kong trust company First Digital Labs caused the price of its issued stablecoin FDUSD to plummet to $0.87, severely depegging. This not only panicked holders but also raised questions about the stability and trustworthiness of stablecoins within the crypto community. Binance, as the main trading platform for FDUSD, quickly responded with a 1:1 redemption guarantee, stabilizing market sentiment and allowing the price to re-peg. Without Binance's endorsement, FDUSD might have gone unnoticed, highlighting the importance of channels for stablecoins.
See original
Powell: Supports Stablecoin Regulation, Maintains Open Attitude Towards Cryptocurrency Innovation
Federal Reserve Chairman Jerome Powell emphasized the importance of a stablecoin regulatory framework in a speech at the Chicago Economic Club, stating that the Federal Reserve is open to interactions between the banking industry and the cryptocurrency sector.
Powell mentioned that, given the increasing importance of digital tools, both houses of Congress are reconsidering the legislation to establish a stablecoin framework. He pointed out that although there had been previous ineffective collaboration with Congress on the legal framework for stablecoins, now "the situation is changing" and legislators are showing renewed interest in regulatory norms.
Powell also noted the Federal Reserve's stance on banking activities related to cryptocurrencies, acknowledging that a conservative approach was taken when issuing guidance on how banks manage risks associated with digital assets. However, he expressed that some guidance may be relaxed to accommodate responsible innovation, as long as consumer protection and financial safety are ensured.
He further emphasized that the Federal Reserve does not aim to prevent banks from providing services to legitimate cryptocurrency clients and cited cryptocurrency custody as an example, stating that if banks and regulators understand the scope of these activities, they can safely offer such services.
Powell stated that the Federal Reserve recognizes Congress's efforts to establish a formal regulatory framework for stablecoins. However, he also emphasized the need to seek a balance between encouraging innovation and preventing risks.
Currently, there is no dedicated federal regulatory system for stablecoins, although Congress has proposed several related legislative initiatives that still require further refinement and implementation. In this context, the Federal Reserve's stance is significantly instructive for the future construction of the regulatory framework.
In conclusion, the Federal Reserve's latest position indicates that it will not attempt to prevent banks from serving legitimate cryptocurrency clients. This open attitude signifies that U.S. financial authorities are increasingly willing to engage in integrating digital asset policies into the global financial market system.
At the same time, as the application of stablecoins continues to grow in the payment and digital settlement fields, it not only provides greater development space for the cryptocurrency industry but also offers new possibilities for balancing financial innovation and regulation.
#加密货币 #美联储 #稳定币监管
Federal Reserve Chairman Jerome Powell emphasized the importance of a stablecoin regulatory framework in a speech at the Chicago Economic Club, stating that the Federal Reserve is open to interactions between the banking industry and the cryptocurrency sector.
Powell mentioned that, given the increasing importance of digital tools, both houses of Congress are reconsidering the legislation to establish a stablecoin framework. He pointed out that although there had been previous ineffective collaboration with Congress on the legal framework for stablecoins, now "the situation is changing" and legislators are showing renewed interest in regulatory norms.
Powell also noted the Federal Reserve's stance on banking activities related to cryptocurrencies, acknowledging that a conservative approach was taken when issuing guidance on how banks manage risks associated with digital assets. However, he expressed that some guidance may be relaxed to accommodate responsible innovation, as long as consumer protection and financial safety are ensured.
He further emphasized that the Federal Reserve does not aim to prevent banks from providing services to legitimate cryptocurrency clients and cited cryptocurrency custody as an example, stating that if banks and regulators understand the scope of these activities, they can safely offer such services.
Powell stated that the Federal Reserve recognizes Congress's efforts to establish a formal regulatory framework for stablecoins. However, he also emphasized the need to seek a balance between encouraging innovation and preventing risks.
Currently, there is no dedicated federal regulatory system for stablecoins, although Congress has proposed several related legislative initiatives that still require further refinement and implementation. In this context, the Federal Reserve's stance is significantly instructive for the future construction of the regulatory framework.
In conclusion, the Federal Reserve's latest position indicates that it will not attempt to prevent banks from serving legitimate cryptocurrency clients. This open attitude signifies that U.S. financial authorities are increasingly willing to engage in integrating digital asset policies into the global financial market system.
At the same time, as the application of stablecoins continues to grow in the payment and digital settlement fields, it not only provides greater development space for the cryptocurrency industry but also offers new possibilities for balancing financial innovation and regulation.
#加密货币 #美联储 #稳定币监管
See original
U.S. Senate Passes Stablecoin Regulation 'GENIUS Act'
On June 17, the U.S. Senate passed the 'Guidance and Establishment of the American Stablecoin National Innovation Act' (GENIUS Act) by a vote of 51 to 23. The bill has been sent to the House of Representatives for review. This vote follows the conclusion of debate on June 11, which ended with a vote of 68 to 30, initiating a 30-hour mandatory countdown to push for a final vote.
Tennessee Republican Senator Bill Hagerty, the main sponsor of the bill, called this vote a "great victory for America." Hagerty stated on social media platform X that the GENIUS Act establishes the first regulatory framework conducive to the development of payment stablecoins.
Hagerty pointed out that the implementation of the GENIUS Act will solidify the dollar's position, protect consumers, increase demand for government bonds, and ensure that the U.S. maintains control over digital asset innovation. He emphasized that linking stablecoins to cash or short-term government bonds combines the stability of the dollar with the speed of blockchain, achieving instant settlement and opening up a new generation of payment methods.
He also predicted that by 2030, stablecoin issuers could become the largest holders of government bonds globally, enhancing fiscal resilience. The GENIUS Act also requires stablecoin issuers to hold reserves equal to the number of tokens in circulation, limited to short-term U.S. government bonds or insured deposits, and prohibits issuers from earning profits. Additionally, reserves must be kept in separate accounts, and issuers must maintain compliance plans, perform customer due diligence, and report suspicious activities.
The bill also stipulates that entities with liabilities exceeding $10 billion must obtain federal charters; smaller issuers can operate under state systems that meet federal standards but are still subject to joint review by federal regulators. Furthermore, the Treasury Department will be required to publish quarterly audit templates, and the Commodity Futures Trading Commission (CFTC) will be granted limited enforcement authority over the spot market.
Meanwhile, Treasury Secretary Scott Bessent stated that the new cryptocurrency stablecoin regulations would help lower government borrowing costs, reduce national debt, and enable millions of users worldwide to use dollar-denominated digital currencies. With the Senate passing the GENIUS Act, the public is now looking forward to the final review outcome in the House of Representatives.
#GENIUS法案 #稳定币监管
On June 17, the U.S. Senate passed the 'Guidance and Establishment of the American Stablecoin National Innovation Act' (GENIUS Act) by a vote of 51 to 23. The bill has been sent to the House of Representatives for review. This vote follows the conclusion of debate on June 11, which ended with a vote of 68 to 30, initiating a 30-hour mandatory countdown to push for a final vote.
Tennessee Republican Senator Bill Hagerty, the main sponsor of the bill, called this vote a "great victory for America." Hagerty stated on social media platform X that the GENIUS Act establishes the first regulatory framework conducive to the development of payment stablecoins.
Hagerty pointed out that the implementation of the GENIUS Act will solidify the dollar's position, protect consumers, increase demand for government bonds, and ensure that the U.S. maintains control over digital asset innovation. He emphasized that linking stablecoins to cash or short-term government bonds combines the stability of the dollar with the speed of blockchain, achieving instant settlement and opening up a new generation of payment methods.
He also predicted that by 2030, stablecoin issuers could become the largest holders of government bonds globally, enhancing fiscal resilience. The GENIUS Act also requires stablecoin issuers to hold reserves equal to the number of tokens in circulation, limited to short-term U.S. government bonds or insured deposits, and prohibits issuers from earning profits. Additionally, reserves must be kept in separate accounts, and issuers must maintain compliance plans, perform customer due diligence, and report suspicious activities.
The bill also stipulates that entities with liabilities exceeding $10 billion must obtain federal charters; smaller issuers can operate under state systems that meet federal standards but are still subject to joint review by federal regulators. Furthermore, the Treasury Department will be required to publish quarterly audit templates, and the Commodity Futures Trading Commission (CFTC) will be granted limited enforcement authority over the spot market.
Meanwhile, Treasury Secretary Scott Bessent stated that the new cryptocurrency stablecoin regulations would help lower government borrowing costs, reduce national debt, and enable millions of users worldwide to use dollar-denominated digital currencies. With the Senate passing the GENIUS Act, the public is now looking forward to the final review outcome in the House of Representatives.
#GENIUS法案 #稳定币监管
See original
[Hong Kong Stablecoin Ordinance Takes Effect This Friday, Global Financial Giants Eager to 'Market']
The Hong Kong Stablecoin Ordinance will officially take effect this Friday (August 1), marking Hong Kong's formal inclusion of digital assets into the traditional financial regulatory system.
The legendary figure in the cryptocurrency circle, 34-year-old TRON founder Sun Yuchen recently stated that the implementation of the Stablecoin Ordinance marks the establishment of the world's first comprehensive regulatory framework for fiat stablecoins, and he even described it as a "global event of great attention," optimistic that this move will provide compliance guarantees for HKD stablecoins and attract banks and fintech giants to participate in issuance.
Sun Yuchen described that Hong Kong's implementation of the Stablecoin Ordinance is a global leading initiative, "Hong Kong has become the first region in the world to establish a comprehensive regulatory framework for fiat-backed stablecoins, and the speed of legislation even exceeds that of the United States, which is a major event of global attention. This first-mover advantage will attract global stablecoin issuers and Web3 companies to settle in Hong Kong, enhancing Hong Kong's global influence in the digital asset field." He also believes that the implementation of the Stablecoin Ordinance is expected to continue consolidating Hong Kong's leading position as a global financial innovation center in global competition.
The legendary figure in the cryptocurrency circle, 34-year-old TRON founder Sun Yuchen recently stated that the implementation of the Stablecoin Ordinance marks the establishment of the world's first comprehensive regulatory framework for fiat stablecoins, and he even described it as a "global event of great attention," optimistic that this move will provide compliance guarantees for HKD stablecoins and attract banks and fintech giants to participate in issuance.
Sun Yuchen described that Hong Kong's implementation of the Stablecoin Ordinance is a global leading initiative, "Hong Kong has become the first region in the world to establish a comprehensive regulatory framework for fiat-backed stablecoins, and the speed of legislation even exceeds that of the United States, which is a major event of global attention. This first-mover advantage will attract global stablecoin issuers and Web3 companies to settle in Hong Kong, enhancing Hong Kong's global influence in the digital asset field." He also believes that the implementation of the Stablecoin Ordinance is expected to continue consolidating Hong Kong's leading position as a global financial innovation center in global competition.
See original
The Basel Committee has established new rules for banks’ cryptocurrency risk disclosure, opening a new process for stablecoin regulation
The Basel Committee on Banking Supervision, part of the Bank for International Settlements (BIS), has officially announced the final disclosure framework for banks’ exposure to cryptocurrencies. At the same time, the committee has also made important revisions to existing crypto asset regulatory standards, in particular tightening the regulatory treatment of stablecoins.
It is reported that these new standards are scheduled to take effect on January 1, 2026, marking an important step for regulators in terms of transparency and consistency in the digital asset field.
In an update on July 17, the committee made it clear that the purpose of these new measures is to enhance the robustness of banks when participating in the crypto asset market. Through these revisions, the committee hopes to increase market transparency and ensure that the regulatory approach matches the rapid development of the digital asset field.
It is reported that these new standards are scheduled to take effect on January 1, 2026, marking an important step for regulators in terms of transparency and consistency in the digital asset field.
In an update on July 17, the committee made it clear that the purpose of these new measures is to enhance the robustness of banks when participating in the crypto asset market. Through these revisions, the committee hopes to increase market transparency and ensure that the regulatory approach matches the rapid development of the digital asset field.
See original
Liu Qiangdong strikes hard! JD's global layout for stablecoin licenses, the cryptocurrency world is surging!
Friends in the cryptocurrency world, look quickly! The influential figure Liu Qiangdong has made another astonishing move, this time targeting the stablecoin field!
The latest news is shocking: Liu Qiangdong, the founder of JD Group, personally announced that JD plans to apply for stablecoin licenses in major currency countries around the world. This is not a simple test, but a formal entry of the e-commerce giant into the field of cryptocurrency payments.
What profound meaning is hidden behind JD's actions?
The ambitions of e-commerce giants, the 'earthquake' in the stablecoin market
JD has a massive user base and a powerful global supply chain. If it successfully launches its own stablecoin, it will pose a strong challenge to the existing stablecoin landscape. Established stablecoins like USDT and USDC will face fierce competition from JD. JD not only brings substantial capital but also has a vast application scenario and reliable brand endorsement.
The latest news is shocking: Liu Qiangdong, the founder of JD Group, personally announced that JD plans to apply for stablecoin licenses in major currency countries around the world. This is not a simple test, but a formal entry of the e-commerce giant into the field of cryptocurrency payments.
What profound meaning is hidden behind JD's actions?
The ambitions of e-commerce giants, the 'earthquake' in the stablecoin market
JD has a massive user base and a powerful global supply chain. If it successfully launches its own stablecoin, it will pose a strong challenge to the existing stablecoin landscape. Established stablecoins like USDT and USDC will face fierce competition from JD. JD not only brings substantial capital but also has a vast application scenario and reliable brand endorsement.
See original
According to The Block, U.S. Senators Kirsten Gillibrand and Cynthia Lummis proposed a stablecoin bill on Wednesday that requires stablecoin issuers to hold a one-to-one cash or cash equivalent reserve to support their tokens and prohibits unbacked algorithmic stablecoins. The bill also requires issuers and users not to use stablecoins for illegal or unauthorized activities, such as money laundering. The bill aims to establish a framework to encourage "responsible" innovation, emphasizing the advantages of stablecoins in fast international transactions, lower fees, and digital native programs and applications.
In addition, the bill plans to establish a "federal and state regulatory system for stablecoin issuers to maintain a dual banking system." In the United States, the dual banking system refers to federal banks and state banks being regulated by different regulators, although they can be regulated by both state and federal regulations. The Lummis-Gillibrand Payment Stablecoin Act will grant federal and state entities the power to charter and enforce stablecoins.
#稳定币 #稳定币立法 #稳定币监管
In addition, the bill plans to establish a "federal and state regulatory system for stablecoin issuers to maintain a dual banking system." In the United States, the dual banking system refers to federal banks and state banks being regulated by different regulators, although they can be regulated by both state and federal regulations. The Lummis-Gillibrand Payment Stablecoin Act will grant federal and state entities the power to charter and enforce stablecoins.
#稳定币 #稳定币立法 #稳定币监管
See original
An article that explains the money-making opportunities and risks brought by stablecoins
$BTC #稳定币监管
Circle's surge is because stablecoins have the functions of a) exchanging currency for chips; b) lending for banks; c) bypassing SWIFT transfers, etc. There is a lot of room for imagination. Retail investors can make money by buying related stocks, and bigwigs can make money by building platforms. However, stablecoins cannot replace the US dollar because they lack the endorsement of the real industry. The following is a detailed text:
1) [Definition of stablecoin: equivalent to "small Hong Kong dollar"]
Whether it is the International Monetary Fund (IMF), or the U.S. Securities and Exchange Commission (SEC) and the Office of the Comptroller of the Currency (OCC), all define stablecoins as digital value units that aim to maintain stable value by anchoring external assets (such as fiat currencies or commodities) or controlling their supply through algorithms, and are usually pegged to the U.S. dollar at a 1:1 ratio.
Circle's surge is because stablecoins have the functions of a) exchanging currency for chips; b) lending for banks; c) bypassing SWIFT transfers, etc. There is a lot of room for imagination. Retail investors can make money by buying related stocks, and bigwigs can make money by building platforms. However, stablecoins cannot replace the US dollar because they lack the endorsement of the real industry. The following is a detailed text:
1) [Definition of stablecoin: equivalent to "small Hong Kong dollar"]
Whether it is the International Monetary Fund (IMF), or the U.S. Securities and Exchange Commission (SEC) and the Office of the Comptroller of the Currency (OCC), all define stablecoins as digital value units that aim to maintain stable value by anchoring external assets (such as fiat currencies or commodities) or controlling their supply through algorithms, and are usually pegged to the U.S. dollar at a 1:1 ratio.
See original
More than 50 enterprises and institutions flock to the Hong Kong Monetary Authority to apply for stablecoin licenses, with cross-border trade giants among them
With the official implementation of Hong Kong's 'Stablecoin Regulation' on August 1, the stablecoin industry has ushered in a new development opportunity. According to Tencent News' 'Observation', before the regulation took effect, over 50 enterprises and institutions rushed to the Hong Kong Monetary Authority to apply for stablecoin licenses. Among them, certain energy state-owned enterprises and cross-border trade giants such as CITIC Group are included.
These enterprises actively met with the regulatory team of the Hong Kong Monetary Authority to discuss the possibility of applying for stablecoin licenses in depth. For cross-border trade enterprises, stablecoins have potential advantages such as cost reduction and efficiency improvement in cross-border payments. They hope to achieve more convenient and low-cost cross-border payments through blockchain technology, bypassing the traditional SWIFT system, thereby gaining an advantage in the fierce market competition.
It is reported that some institutions seeking to apply for licenses still have the ultimate goal of creating stablecoins pegged to offshore renminbi. The status of the renminbi in the international payment system is gradually increasing, and the offshore renminbi market is continuously developing, making stablecoins pegged to offshore renminbi extremely attractive. If successfully issued, it will provide a new vehicle for the circulation and use of offshore renminbi, promote the internationalization of renminbi, and meet the market's demand for stable assets priced in renminbi.
However, regarding this news, as of the time of publication, Tencent News' 'Observation' has yet to receive comments from CITIC Group. The Hong Kong Monetary Authority maintains a cautious attitude towards the issuance of stablecoin licenses. Previously, President Yu Weiwen revealed that only a few stablecoin licenses would be issued in the initial stage, and the applying institutions not only need to present specific business rationale and application scenarios but also must possess strong technical capabilities, especially in terms of anti-money laundering experience or feasible solutions.
Currently, the Hong Kong Monetary Authority has not issued any licenses; the licensing process will be ongoing. Institutions interested in applying for licenses are encouraged to contact via email by August 31, while those that are well-prepared and wish to be considered early should submit their applications by September 30. The subsequent situation regarding the issuance of stablecoin licenses and the application progress of these institutions is worth close attention from the market. #稳定币监管
With the official implementation of Hong Kong's 'Stablecoin Regulation' on August 1, the stablecoin industry has ushered in a new development opportunity. According to Tencent News' 'Observation', before the regulation took effect, over 50 enterprises and institutions rushed to the Hong Kong Monetary Authority to apply for stablecoin licenses. Among them, certain energy state-owned enterprises and cross-border trade giants such as CITIC Group are included.
These enterprises actively met with the regulatory team of the Hong Kong Monetary Authority to discuss the possibility of applying for stablecoin licenses in depth. For cross-border trade enterprises, stablecoins have potential advantages such as cost reduction and efficiency improvement in cross-border payments. They hope to achieve more convenient and low-cost cross-border payments through blockchain technology, bypassing the traditional SWIFT system, thereby gaining an advantage in the fierce market competition.
It is reported that some institutions seeking to apply for licenses still have the ultimate goal of creating stablecoins pegged to offshore renminbi. The status of the renminbi in the international payment system is gradually increasing, and the offshore renminbi market is continuously developing, making stablecoins pegged to offshore renminbi extremely attractive. If successfully issued, it will provide a new vehicle for the circulation and use of offshore renminbi, promote the internationalization of renminbi, and meet the market's demand for stable assets priced in renminbi.
However, regarding this news, as of the time of publication, Tencent News' 'Observation' has yet to receive comments from CITIC Group. The Hong Kong Monetary Authority maintains a cautious attitude towards the issuance of stablecoin licenses. Previously, President Yu Weiwen revealed that only a few stablecoin licenses would be issued in the initial stage, and the applying institutions not only need to present specific business rationale and application scenarios but also must possess strong technical capabilities, especially in terms of anti-money laundering experience or feasible solutions.
Currently, the Hong Kong Monetary Authority has not issued any licenses; the licensing process will be ongoing. Institutions interested in applying for licenses are encouraged to contact via email by August 31, while those that are well-prepared and wish to be considered early should submit their applications by September 30. The subsequent situation regarding the issuance of stablecoin licenses and the application progress of these institutions is worth close attention from the market. #稳定币监管
See original
Stablecoin regulation: Legal veterans oppose Lummis-backed bill
Brief Overview:
• Stablecoin regulatory bills face both support and opposition;
• The bill wants to ban algorithmic stablecoins;
• According to an American law professor, this bill could harm the US financial system.
The new stablecoin regulation bill, co-sponsored by Senators Lummis and Gillibrand, could significantly inhibit innovation in the United States.
The current stablecoin regulatory bill that has attracted much attention
The 179-page bill, filed last week by Lummis and Gillibrand, seeks to provide a clear legal status for stablecoins pegged to fiat currencies and provide clear legal regulations for their operation.
• Stablecoin regulatory bills face both support and opposition;
• The bill wants to ban algorithmic stablecoins;
• According to an American law professor, this bill could harm the US financial system.
The new stablecoin regulation bill, co-sponsored by Senators Lummis and Gillibrand, could significantly inhibit innovation in the United States.
The current stablecoin regulatory bill that has attracted much attention
The 179-page bill, filed last week by Lummis and Gillibrand, seeks to provide a clear legal status for stablecoins pegged to fiat currencies and provide clear legal regulations for their operation.
See original
#稳定币监管风暴
🌪️ **Stablecoin Regulatory Storm: Global Regulatory Competition Intensifies**
**Hong Kong Takes the Lead**: The Stablecoin Regulation came into effect on August 1, mandating that reserve assets be 100% segregated, enhanced due diligence for transactions exceeding 100,000 HKD, and establishing a user identity penetration management mechanism.
**United States Joins the Fray**: On July 18, Trump signed the GENIUS Act, establishing a federal regulatory framework—**100% USD or US treasury reserves**, tiered regulation (over 10 billion USD directly managed by the Federal Reserve), **prohibiting tech giants from issuing their own coins**, while also setting up a “National Bitcoin Reserve” and banning central bank digital currencies.
#稳定币监管 #全球金融体系
🌪️ **Stablecoin Regulatory Storm: Global Regulatory Competition Intensifies**
**Hong Kong Takes the Lead**: The Stablecoin Regulation came into effect on August 1, mandating that reserve assets be 100% segregated, enhanced due diligence for transactions exceeding 100,000 HKD, and establishing a user identity penetration management mechanism.
**United States Joins the Fray**: On July 18, Trump signed the GENIUS Act, establishing a federal regulatory framework—**100% USD or US treasury reserves**, tiered regulation (over 10 billion USD directly managed by the Federal Reserve), **prohibiting tech giants from issuing their own coins**, while also setting up a “National Bitcoin Reserve” and banning central bank digital currencies.
#稳定币监管 #全球金融体系
See original
On August 1, Hong Kong implements the strictest global #stablecoin regulation! How can unlicensed crypto players survive?
The Hong Kong Monetary Authority takes action! Digital currency regulation reaches a historic turning point.
In July, the Hong Kong Monetary Authority (HKMA) shocked the global crypto community with a document. The (Stablecoin Issuance Regulatory Framework) that took effect on August 1 not only tightened the reins on the cryptocurrency market but also marked a shift in Hong Kong's regulation of virtual assets from 'open exploration' to 'deep reform'.
Interpretation of Regulatory Details: These five key points must be understood
1. License issuance dynamics: The risk of a 'zero pass' window period
The HKMA warns at the beginning of the document: 'As of now, no institution has obtained a stablecoin issuance license.' This means that all stablecoin products in the market currently operate 'without a license.'
In July, the Hong Kong Monetary Authority (HKMA) shocked the global crypto community with a document. The (Stablecoin Issuance Regulatory Framework) that took effect on August 1 not only tightened the reins on the cryptocurrency market but also marked a shift in Hong Kong's regulation of virtual assets from 'open exploration' to 'deep reform'.
Interpretation of Regulatory Details: These five key points must be understood
1. License issuance dynamics: The risk of a 'zero pass' window period
The HKMA warns at the beginning of the document: 'As of now, no institution has obtained a stablecoin issuance license.' This means that all stablecoin products in the market currently operate 'without a license.'
See original
EU relaxes foreign stablecoin regulations, ignoring ECB concerns
On June 26, the European Commission is about to issue formal guidance to allow dollar-backed stablecoins such as USDC and USDT to circulate freely within the EU and enjoy the same treatment as European-registered stablecoins. This move will remove key regulatory barriers that previously restricted the entry of dollar stablecoins into the European market.
Despite the ECB's repeated warnings that unrestricted foreign stablecoins could threaten financial stability, the European Commission has insisted on promoting policy changes. ECB President Christine Lagarde has urged stronger regulation of stablecoin issuers to prevent capital flight and monetary sovereignty risks. However, the European Commission has not changed its position and still decided to relax restrictions on foreign stablecoins.
According to the current EU Crypto Asset Market (MiCA) regulations, stablecoin issuers must keep most of their reserves in EU banks and ensure redemption rights denominated in euros, and the proposed changes will allow global issuers to bypass this restriction. The EU's move is aimed at actively promoting cryptocurrency innovation to enhance its competitiveness in the global crypto market.
The GENIUS Act, recently passed by the U.S. Senate, establishes a national framework for stablecoin regulation, which undoubtedly puts pressure on other jurisdictions to follow suit. Against this backdrop, the European Commission is about to issue guidelines and actively participate in the competition in the global cryptocurrency market to ensure that its position in this emerging field is not weakened.
Although the European Central Bank has not publicly stated its position on the upcoming guidelines, internal opposition remains strong. It is reported that EU officials are seeking a compromise solution to give national regulators more discretion so that they can better assess the risks of foreign stablecoins. This move not only promotes the development of the digital market, but also ensures financial stability and security, while balancing the different positions of all parties.
Once the new policy is promulgated and implemented, it may mark the important role of US dollar stablecoins in Europe and consolidate the dominant position of the US dollar in the EU digital asset market. The EU hopes to promote innovation and development in the field of digital assets while ensuring financial stability through this policy adjustment to enhance its competitiveness in the global market.
#欧盟委员会 #稳定币监管 #监管政策
On June 26, the European Commission is about to issue formal guidance to allow dollar-backed stablecoins such as USDC and USDT to circulate freely within the EU and enjoy the same treatment as European-registered stablecoins. This move will remove key regulatory barriers that previously restricted the entry of dollar stablecoins into the European market.
Despite the ECB's repeated warnings that unrestricted foreign stablecoins could threaten financial stability, the European Commission has insisted on promoting policy changes. ECB President Christine Lagarde has urged stronger regulation of stablecoin issuers to prevent capital flight and monetary sovereignty risks. However, the European Commission has not changed its position and still decided to relax restrictions on foreign stablecoins.
According to the current EU Crypto Asset Market (MiCA) regulations, stablecoin issuers must keep most of their reserves in EU banks and ensure redemption rights denominated in euros, and the proposed changes will allow global issuers to bypass this restriction. The EU's move is aimed at actively promoting cryptocurrency innovation to enhance its competitiveness in the global crypto market.
The GENIUS Act, recently passed by the U.S. Senate, establishes a national framework for stablecoin regulation, which undoubtedly puts pressure on other jurisdictions to follow suit. Against this backdrop, the European Commission is about to issue guidelines and actively participate in the competition in the global cryptocurrency market to ensure that its position in this emerging field is not weakened.
Although the European Central Bank has not publicly stated its position on the upcoming guidelines, internal opposition remains strong. It is reported that EU officials are seeking a compromise solution to give national regulators more discretion so that they can better assess the risks of foreign stablecoins. This move not only promotes the development of the digital market, but also ensures financial stability and security, while balancing the different positions of all parties.
Once the new policy is promulgated and implemented, it may mark the important role of US dollar stablecoins in Europe and consolidate the dominant position of the US dollar in the EU digital asset market. The EU hopes to promote innovation and development in the field of digital assets while ensuring financial stability through this policy adjustment to enhance its competitiveness in the global market.
#欧盟委员会 #稳定币监管 #监管政策
See original
The New Regulatory Era for Stablecoins: Opportunities and Challenges Coexist—Experts Interpret the Global Regulatory Landscape
As countries gradually clarify their regulatory frameworks for stablecoins, this key bridge connecting traditional finance and the crypto world is facing new compliance tests. The advancement of the US (Payment Stablecoin Clarity Act), the implementation of the EU MiCA legislation, and regulatory explorations in various Asian countries together form the regulatory landscape for the stablecoin market in 2024. Industry experts point out that compliance will become the core proposition for the stablecoin track in the next 12-18 months, with leading projects and emerging players already launching a new round of strategic adjustments.
I. The three major global regulatory camps take shape
1. USA: 'Baseline regulatory' model established
I. The three major global regulatory camps take shape
1. USA: 'Baseline regulatory' model established
See original
Hong Kong's new stablecoin regulations will take effect in August, clearly aiming to seize global stablecoin pricing power! To summarize: This is Hong Kong's 'currency sovereignty defense battle' in the Web3 era. In the next three years, the compliant stablecoin track will definitely be bloody!!!
/Which coins will take off? Which will go cold?
1> Easy wins: Compliant stablecoins
Old players like USDT and USDC now either have to obediently apply for a Hong Kong license (100% reserve isolation + monthly audits) or be overtaken by Hong Kong's stablecoins. Standard Chartered and JD's Hong Kong dollar stablecoin (like JD-HKD) are already targeting cross-border settlements in the Greater Bay Area, aiming to cut 3-5% of exchange costs for businesses. This wave of institutional entry will definitely boost the market!
2> Dark horse track: RWA
Hong Kong is currently pushing for the tokenization of physical assets like new energy charging stations and photovoltaic power plants. Longxin Group and Xiexin Energy have already issued hundreds of millions of RWA tokens, allowing stablecoins to purchase fragmented assets, enabling retail investors to participate in infrastructure projects and earn dividends! However, the liquidity of RWA is still poor, and we have to wait for the Hong Kong government to break down the data barriers between the central bank and foreign exchange management before it can explode, which may take another 2 years.
3> Totally cold: Shady algorithmic stablecoins
The new regulations directly ban uncollateralized algorithmic stablecoins (like $LUNA's type of air-pegging must die), and even using reserve assets for high-risk projects is not allowed.
/So, why does Hong Kong dare to challenge the United States?
1> More aggressive regulation: Value anchoring principle
The US requires stablecoins to be 100% backed by US treasury bonds, while Hong Kong plays a game where it regulates whatever you anchor to. For example, if you issue an offshore RMB stablecoin? Fine, but reserves must be 100% backed by offshore RMB deposits or treasury bonds. This strategy not only hugs the big leg (RMB) but also maintains independence (Hong Kong dollar), savvy businessmen!
2> RWA + stablecoin combo punch
Hong Kong is now tokenizing physical assets like new energy and supply chain finance, using stablecoins as the medium of transaction, essentially creating an on-chain New York Stock Exchange. My personal judgment: In the next 3 years, at least 50 Chinese concept stocks will come to Hong Kong to issue RWA bonds, harvesting global retail investors!
3> Geopolitical buff
In the context of financial decoupling between China and the US, Hong Kong's stablecoins serve as an underground channel for the internationalization of RMB, especially now that Russia and Iran are using USDT to bypass dollar sanctions. In the future, offshore RMB stablecoins will definitely become hard currency!
/Finally, a reminder:
Non-licensed stablecoins (like those issued by certain small exchanges) may be directly delisted after August, be careful as your principal could go to zero!
#稳定币监管
#RWA
/Which coins will take off? Which will go cold?
1> Easy wins: Compliant stablecoins
Old players like USDT and USDC now either have to obediently apply for a Hong Kong license (100% reserve isolation + monthly audits) or be overtaken by Hong Kong's stablecoins. Standard Chartered and JD's Hong Kong dollar stablecoin (like JD-HKD) are already targeting cross-border settlements in the Greater Bay Area, aiming to cut 3-5% of exchange costs for businesses. This wave of institutional entry will definitely boost the market!
2> Dark horse track: RWA
Hong Kong is currently pushing for the tokenization of physical assets like new energy charging stations and photovoltaic power plants. Longxin Group and Xiexin Energy have already issued hundreds of millions of RWA tokens, allowing stablecoins to purchase fragmented assets, enabling retail investors to participate in infrastructure projects and earn dividends! However, the liquidity of RWA is still poor, and we have to wait for the Hong Kong government to break down the data barriers between the central bank and foreign exchange management before it can explode, which may take another 2 years.
3> Totally cold: Shady algorithmic stablecoins
The new regulations directly ban uncollateralized algorithmic stablecoins (like $LUNA's type of air-pegging must die), and even using reserve assets for high-risk projects is not allowed.
/So, why does Hong Kong dare to challenge the United States?
1> More aggressive regulation: Value anchoring principle
The US requires stablecoins to be 100% backed by US treasury bonds, while Hong Kong plays a game where it regulates whatever you anchor to. For example, if you issue an offshore RMB stablecoin? Fine, but reserves must be 100% backed by offshore RMB deposits or treasury bonds. This strategy not only hugs the big leg (RMB) but also maintains independence (Hong Kong dollar), savvy businessmen!
2> RWA + stablecoin combo punch
Hong Kong is now tokenizing physical assets like new energy and supply chain finance, using stablecoins as the medium of transaction, essentially creating an on-chain New York Stock Exchange. My personal judgment: In the next 3 years, at least 50 Chinese concept stocks will come to Hong Kong to issue RWA bonds, harvesting global retail investors!
3> Geopolitical buff
In the context of financial decoupling between China and the US, Hong Kong's stablecoins serve as an underground channel for the internationalization of RMB, especially now that Russia and Iran are using USDT to bypass dollar sanctions. In the future, offshore RMB stablecoins will definitely become hard currency!
/Finally, a reminder:
Non-licensed stablecoins (like those issued by certain small exchanges) may be directly delisted after August, be careful as your principal could go to zero!
#稳定币监管
#RWA
See original
Tether and USDC come under pressure after Hong Kong imposes strict stablecoin regulations
Hong Kong’s stablecoin regulation sets out strict licensing rules, posing a threat to major industry players such as Tether and Circle.
Hong Kong recently proposed strict regulations on stablecoins, signaling its ambition to become a hub for virtual assets. However, recent developments have brought potential challenges to the popular stablecoins on the market. Experts believe the policy, which is stricter than Singapore’s, could put major players such as Tether (USDT) and USD Coin (USDC) at risk.
Experts’ views on Hong Kong’s strict stablecoin regulation
According to the South China Morning Post, Chengyi Ong, head of Asia Pacific policy at Chainaanalysis, believes that Hong Kong’s stablecoin regulatory proposals are more stringent than those in Singapore. She confirmed her claim, citing a new framework that requires companies to have a minimum paid-up capital of US$3.2 million (HK$25 million) to obtain a license. Additionally, Ong noted that the regulation highlights Hong Kong’s goal to “set high standards for fiat stablecoins (FRS).”
Hong Kong recently proposed strict regulations on stablecoins, signaling its ambition to become a hub for virtual assets. However, recent developments have brought potential challenges to the popular stablecoins on the market. Experts believe the policy, which is stricter than Singapore’s, could put major players such as Tether (USDT) and USD Coin (USDC) at risk.
Experts’ views on Hong Kong’s strict stablecoin regulation
According to the South China Morning Post, Chengyi Ong, head of Asia Pacific policy at Chainaanalysis, believes that Hong Kong’s stablecoin regulatory proposals are more stringent than those in Singapore. She confirmed her claim, citing a new framework that requires companies to have a minimum paid-up capital of US$3.2 million (HK$25 million) to obtain a license. Additionally, Ong noted that the regulation highlights Hong Kong’s goal to “set high standards for fiat stablecoins (FRS).”
See original
Binance CEO discusses stablecoin regulation and Nigerian detention at Token2049 conference
At the Token2049 conference, Binance CEO Richard Teng discussed some of the key issues in the crypto space, focusing on the regulation of stablecoins and the complex situation of Binance executives detained in Nigeria.
On April 18, Binance CEO Richard Teng delivered the keynote address at a panel discussion on cryptocurrency regulation moderated by Chamber of Digital Commerce CEO Perianne Boring at the Token2049 conference in Dubai.
Perianne Boring (left), Matthew Roszak (center) and Richard Teng (right) | Source: crypto.news Photo taken at the Token2049 event
On April 18, Binance CEO Richard Teng delivered the keynote address at a panel discussion on cryptocurrency regulation moderated by Chamber of Digital Commerce CEO Perianne Boring at the Token2049 conference in Dubai.
Perianne Boring (left), Matthew Roszak (center) and Richard Teng (right) | Source: crypto.news Photo taken at the Token2049 event
See original
Fed official says cryptocurrencies and stablecoins will strengthen but won’t threaten dollar
The official said that the use of USD stablecoins in the decentralized finance space is a good thing because it can strengthen the strength of the US dollar.
A U.S. Federal Reserve official said the increased use and adoption of U.S. dollar stablecoins could benefit the U.S. dollar’s status as the world’s dominant currency. Christopher Waller, a member of the Federal Reserve Board of Governors, said that the decentralized finance industry is good for the United States.
Stablecoins and DeFi are bullish for the dollar
Waller said at a recent event in the Bahamas that DeFi adoption will support the dollar’s dominance due to the industry’s reliance on stablecoins. Waller said many people often "speculate that cryptocurrencies such as Bitcoin may replace the U.S. dollar as the world's reserve currency." However, he noted that much of the market capitalization in the DeFi space relies on the value of the U.S. dollar. Then he added:
A U.S. Federal Reserve official said the increased use and adoption of U.S. dollar stablecoins could benefit the U.S. dollar’s status as the world’s dominant currency. Christopher Waller, a member of the Federal Reserve Board of Governors, said that the decentralized finance industry is good for the United States.
Stablecoins and DeFi are bullish for the dollar
Waller said at a recent event in the Bahamas that DeFi adoption will support the dollar’s dominance due to the industry’s reliance on stablecoins. Waller said many people often "speculate that cryptocurrencies such as Bitcoin may replace the U.S. dollar as the world's reserve currency." However, he noted that much of the market capitalization in the DeFi space relies on the value of the U.S. dollar. Then he added:
Login to explore more contents