CoinVoice has recently learned that China International Capital Corporation (CICC) published an article (on the potential impact of stablecoins on the financial system), which pointed out: From the perspective of money creation, borrowing activities within the decentralized financial system achieve the creation function of 'quasi-money', especially through stablecoins to purchase tokenized stock assets, which will cause funds to flow directly in/out of the stock market; from the perspective of market sentiment, the price of cryptocurrencies is 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 stablecoin-related assets, 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 and crypto assets, strengthens the international competitiveness of Hong Kong's financial industry and the Hong Kong dollar, and consolidates Hong Kong's position as an international financial center. [Original link]
