Odaily Planet Daily News: CICC published an article (The Potential Impact of Stablecoins on the Financial System), which pointed out: From the perspective of money creation, lending behavior within the decentralized financial system has achieved the function of 'quasi-money' creation, especially through stablecoins to purchase tokenized stock assets, which directly causes funds to flow in/out of the stock market; from the perspective of market sentiment, cryptocurrency prices are highly volatile, affecting stock market expectations. Historically, there has been a certain correlation between the NASDAQ index and Bitcoin prices; in the stock market, crypto assets and stablecoins related targets, such as cryptocurrency exchanges and financial institutions, influence stock prices through changes in fundamentals. For the Hong Kong dollar, regulating the issuance of stablecoins, especially Hong Kong dollar stablecoins, helps enhance the influence of the Hong Kong dollar in cross-border payments, crypto assets, and other fields, strengthening the international competitiveness of Hong Kong's financial industry and the Hong Kong dollar, consolidating Hong Kong's position as an international financial center.

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