香港推出稳定币

Hong Kong is using the 'regulatory sandbox' as a springboard to transform into the 'Eastern Wall Street' for stablecoins. The Monetary Authority is accelerating license issuance, which may trigger a new wave of 'Harbor Wave' in crypto finance!

​​Core Interpretation​​：

The Financial Secretary of Hong Kong, Paul Chan, recently made it clear that after the 'Stablecoin Ordinance' takes effect on August 1, the Monetary Authority will 'quickly' process license applications. In simple terms, this means Hong Kong is issuing 'ID cards' for stablecoins—compliant players will have licenses, while non-compliant projects will be eliminated.

​​Personal Opinion​​：

​​Regulatory Logic: Stability and Profitability are Both Important​​

Hong Kong's stablecoin framework is considered one of the 'most open' globally: it allows pegging to multiple fiat currencies while requiring issuers to prove 'real demand.'

This not only attracts international capital but also prevents a single dollar stablecoin from monopolizing the market, which is essentially 'having the cake and eating it too.'

​​Market Opportunity: Giants Competing, Hidden Gems in Hong Kong Stocks​​

Ant Group and JD Coin Chain are already at the forefront of applications, and Standard Chartered Bank has even partnered with telecom companies to create a Hong Kong dollar stablecoin. Don't just look at the issuing institutions; the underlying technology service providers and compliant trading platforms are the 'shovel sellers,' and these Hong Kong stock targets have recently surged over 10%.

​​Potential Risks: Don't Treat 'Stability' as a Get-Out-of-Jail-Free Card​​

Referencing the 2023 Silicon Valley Bank collapse that led to USDC losing its peg, while Hong Kong requires reserve assets to be audited monthly, if the pegged assets themselves collapse, stablecoins will still fail. Furthermore, technical vulnerabilities and cross-border accountability remain hidden dangers.

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On June 12, Ant Group's Ant Digital Technology has started the application for a stablecoin license in Hong Kong, and it has already had multiple rounds of communication with regulators.

Leveraging Ant Group's strong e-commerce, payment, and other business sectors, the layout of stablecoins will undoubtedly further enhance its competitiveness.

Although countries are gradually improving regulations related to stablecoins, the uncertainty and diversity of regulation remain the main challenges Ant will face.

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0523｜Your Web3 News Summary🔔
1⃣ Trump: The United States Dominates in the Fields of Cryptocurrency, Bitcoin, and More
2⃣ Xu Zhengyu: There is a Huge Demand for Stablecoins in Hong Kong, Will Develop Virtual Assets and Gold Commodity Market Simultaneously
3⃣ The Wall Street Journal: Several Large Banks in the U.S. Discuss Joint Issuance of Stablecoins #比特币突破11万美元 #特朗普首次使用BTC #香港推出稳定币

According to the data, tokens in the Hong Kong concept sector generally rose, with a 24-hour increase of 10.6%.
Specifically, CFX rose 15.58% in the past 24 hours and is now at $0.2745;
QTUM rose 22.20% in the past 24 hours and is now at $4.7639;
ACH rose 24% in the past 24 hours and is now at $0.031598;
KEY rose 10.5% in the past 24 hours and is now at $0.007401.
#香港推出稳定币 #CFX. #qtum #key $ACH $KEY $QTUM

Hong Kong throws out a big bomb! The "Stablecoin Regulation Draft" has officially landed, putting the first "compliance shackles" on global stablecoins! This legislation directly sets three red lines: a paid-in capital starting at HKD 25 million, reserves must be 100% backed by issuance, monthly public audits, and stablecoins pegged to the Hong Kong dollar from overseas must also be licensed—TerraUSD, which collapsed back then, wouldn't even qualify for registration in Hong Kong! In contrast to the US and Europe still bickering over regulatory details, Hong Kong's "hard rules + full jurisdiction" approach has directly become a global regulatory textbook.

This move harbors great ambition: 90% of global stablecoins are settled in USD, but Hong Kong allows the issuance of stablecoins in HKD, RMB, and even multi-currency stablecoins. Standard Chartered has tested "HKD stablecoin + digital RMB" cross-border payments, and in the future, businesses in the Greater Bay Area may find it as simple to pay for goods with stablecoins as sending a WeChat red envelope. Citibank predicts that by 2030, the stablecoin market could reach USD 3.7 trillion, and Hong Kong aims to solidify its position as a "super node in digital finance," breaking the dollar's monopoly in the crypto world.

Hong Kong's "balancing act" is most remarkable: it requires stablecoins to have "transparent financial records" to prevent crises, while also allowing for a "regulatory sandbox" to encourage innovation. For example, Hong Kong Telecom plans to integrate stablecoins into the electronic wallets of 8 million users, potentially connecting with mainland Alipay in the future. It neither imposes a one-size-fits-all ban nor allows chaotic situations to prevail; Hong Kong proves that regulation can pave the way for innovation. This experiment in the "Eastern Financial Center" is rewriting global crypto rules. Do you think Hong Kong can become the "new center of digital finance"? Let's discuss in the comments! Share and follow to track the progress of stablecoin licensing! #香港推出稳定币

Harvest Global Investments (hereinafter referred to as Harvest International) announced today that the Hong Kong Securities Regulatory Commission has approved in principle that Harvest will invest in two major digital asset spot exchange-traded funds (ETFs).
Harvest's investment in these two major digital asset spot ETFs will be carried out through OSL Digital Securities Co., Ltd., the first digital asset platform authorized and regulated by the Hong Kong Securities Regulatory Commission. This move effectively solves the problems of excessive margin requirements, price premiums caused by the lack of short trading, and rolling losses, thereby more accurately reflecting the real-time value of Bitcoin.
#香港比特币现货etf #香港推出稳定币

Hony Capital (a domestic first-line investment management company) issued 1 million Hong Kong dollars in stable coins on CFX. This stable currency is the same as USDT. The issuance of 1HKD requires a pledge of 1HKD with the regulatory agency, and additional issuances can be made at any time! #cfx #香港机密 #香港推出稳定币

#香港推出稳定币
1. The most problematic aspect is definitely the restriction on mainland residents' purchases; given the limited purchasing power in Hong Kong itself, it feels concerning.
2. The previous unclear and chaotic situation might have left some room for maneuver; now that it has become a formal bill, the outlook feels worrying.
3. Clearly negative for Hong Kong stocks; liquidity was already insufficient, and now another batch is being cut off.

Hong Kong also suddenly passed the Bitcoin spot ETF today, which means that new funds are buying Bitcoin. This has just begun. I believe that more countries will follow up with Bitcoin ETFs. The traditional financial industry in the United States alone attracts 1% of the market, which is also several trillion US dollars, enough to double the price of Bitcoin. This year, BTC breaking through 100,000 is equivalent to 100% of the things
#比特币减半 #香港比特币现货etf #香港推出稳定币

#香港推出稳定币

Brothers, $FDUSD has broken loose

Teacher, what should we do? Run? Copy?

I don't know what happened, it was said by Sun Ge!

Attention ⚠️ Risk, nfa.