At a time when global stablecoin regulation is still in chaotic exploration, Hong Kong has taken the lead in establishing a systematic compliance framework with the strong implementation of the "Stablecoin Regulation Bill." This milestone legislation sets stringent standards across capital thresholds, reserve mechanisms, and auditing processes: the paid-in capital must not be less than HK$25 million, 100% reserve coverage of the issuance scale is required, and monthly public audits must be accepted; more groundbreaking is the inclusion of foreign currency-pegged stablecoins under licensed regulation, making it difficult for TerraUSD, which once caused an earthquake in the cryptocurrency circle, to even meet the admission criteria under the new rules. Compared to the lengthy discussions on regulatory frameworks in Europe and the United States, Hong Kong's regulatory paradigm of "rigid rules + comprehensive coverage" sets a new reference for global stablecoin governance.

Behind this institutional innovation lies Hong Kong's strategic ambition to reshape the digital financial landscape. In a scenario where the U.S. dollar dominates 90% of global stablecoin settlements, Hong Kong boldly opens up a multi-currency track, allowing the issuance of Hong Kong dollars, Chinese yuan, and composite stablecoins. The successful pilot of the "Hong Kong Dollar Stablecoin - Digital Yuan" cross-border payment solution by Standard Chartered Bank, according to Citibank's forward-looking forecast, is expected to see the global stablecoin market scale soar to US$3.7 trillion by 2030. Hong Kong is seizing this opportunity to fully anchor its positioning as a "digital financial super hub," challenging the dollar's hegemony in the crypto space.

The essence of Hong Kong's regulatory wisdom lies in precisely grasping the balance between "maintaining integrity" and "innovation." On one hand, through penetrating regulation, it ensures the transparency of capital flows, eliminating potential risks at the source; Hong Kong's telecommunications plans to embed stablecoins into 8 million users' electronic wallets and explore interconnectivity with the mainland payment system are vivid practices of this blend of rigidity and flexibility. Hong Kong proves through institutional innovation that scientific regulation will not become a constraint on development, but can instead serve as a guiding lighthouse for fintech to sail forward. Hong Kong aims to become the global center of mathematical currency finance! The cryptocurrency bull market has arrived; one can pay attention to the Trump-themed Dogecoin Cona n, which, with top LP narratives and community empowerment, has great prospects!