Double breakthroughs in policies between Hong Kong and the mainland: Renminbi stablecoins and the rights to virtual assets are reshaping the cryptocurrency landscape.
Two seemingly independent heavyweight messages released a strong policy resonance on the same day:
The Deputy Secretary for Financial Services and the Treasury of Hong Kong, Xu Zhengyu, clearly stated: 'Hong Kong laws do not rule out the possibility of stablecoins being pegged to the Renminbi';
An article published by the People's Court Daily under the Supreme People's Court acknowledges that virtual currencies 'have corresponding property attributes', and for cases involving refunds, it can explore exchanging for legal currency through compliant licensed trading platforms.
This signifies a profound shift in China's regulatory stance in the field of digital currency, injecting new expectations into the market. Hong Kong: Renminbi stablecoins? The official says 'it can happen'!
What did Brother Xu say? The law does not rule out stablecoins pegged to the Renminbi! Do you understand? It's not 'not allowed', it's 'can be done, wait for me to issue the rules'! This traffic light has directly changed from red to yellow, and the green light is just ahead!
Why is this happening? It's simple! Just think, in the future, business owners engaging in cross-border trade will use compliant stablecoins issued in Hong Kong that are pegged to the Renminbi, so the exchange rate won't be on a roller coaster, transfers will be super fast, and fees will be low! Isn't that better than worrying while using USDT?
Who benefits? Hong Kong is thrilled! This move directly cements its position as an 'offshore Renminbi crypto hub', while also helping the country promote Renminbi internationalization, further stabilizing its status as a financial center. I estimate that within a year or two, the first batch of 'certified' Renminbi stablecoins will be unveiled, just thinking about it is exciting!
2. Mainland courts: Virtual currencies are property! True money can be refunded!
(People's Court Daily) How significant is this article? It is from the Supreme Court! It states that virtual currencies 'have property attributes', which is equivalent to official certification – the coins in your wallet are legally recognized as money! In the past, if something happened, and your coins were confiscated, who could you turn to? It's different now!
The most crucial practical operation is here! The article mentioned that regarding refunds, the court can explore allowing victims to exchange their coins for Renminbi through compliant, licensed exchanges! The phrase 'compliant and licensed' is worth its weight in gold, brothers!
What does this mean for us ordinary players? A tremendous opportunity! But we must see the truth of the matter!
The stablecoin landscape is changing: The days of USDT and USDC monopolizing the market are likely coming to an end! A compliant, transparent 'Renminbi stablecoin' backed by the state will absolutely be the next super trend! Those shady stablecoins? Better wash up and sleep early, no one will dare to use them!
A major reshuffle for exchanges: 'Compliant licenses' have suddenly turned into a golden signboard! Why? Because the court named them, and to get refunds or exchange for legal currency, one must find a 'compliant and licensed' one! Exchanges in Hong Kong with licenses (like OSL, HashKey) will see their value skyrocket! Traffic and trust levels will surge! Those small or shady exchanges? Users will vote with their feet and leave, as there is no safety or guarantee!
Property rights are stabilized, and institutions are coming: Why didn't big institutions dare to enter the market before? They were afraid the law wouldn't recognize it and that issues would arise without clarity! Now it's good, as the court recognizes it as property, and the refund path has been indicated, those with large amounts of cash, like funds and investment banks, are probably already secretly popping champagne! New capital is really on the way!
A new way to make money in Web3: Just think about it, Renminbi stablecoins + compliant exchanges in Hong Kong + legal protection, isn't this paving a highway for legitimate financial activities like on-chain stocks, bonds, and cross-border payments? Opportunities for 'legitimate business' using blockchain technology will greatly increase!
This is not a small policy patch; it is the official taking action to redefine the rules and set the track for the cryptocurrency sector! The era of being a 'lawless land' and chaotic free-for-all is completely over! In the future, if you want to thrive in this circle, 'compliance' will be your lifeline and your biggest cash cow! Whether you're trading coins, holding coins, or running projects, if you don't research compliance or follow policies, be careful not to get crushed on the beach!
The market always rewards those who are ahead of the curve. How the market will trend next, and specific buy and sell points, can be followed by Xiaocheng!$BNB #我的交易风格 #稳定币
