Viewpoint: Hong Kong proposes the concept of 'designated stablecoins', corresponding to value anchoring regulatory model

According to news from Hash Blockchain, the 21st Century Business Herald reported that Hong Kong has proposed the concept of 'designated stablecoins', which reference one or more official currencies, units of account designated by the financial authority, or formats for storing economic value to maintain stable value. Regulatory focus is on two types of activities: issuing designated stablecoins in Hong Kong; or issuing designated stablecoins outside of Hong Kong that claim to be anchored to the value of the Hong Kong dollar. This design ensures regulation of stablecoins pegged to the Hong Kong dollar while also reserving some space for other stablecoins.