BlockBeats reported that on August 1, the Hong Kong (Stablecoin Regulation Draft) officially took effect, marking the formal establishment of a licensing regulatory mechanism for stablecoin issuers in Hong Kong. This move aims to provide a clearer legal framework for the virtual asset ecosystem, prevent systemic financial risks, and promote Hong Kong's development as a global virtual asset center.
According to BiyaPay analysts, affected by the implementation of this policy, the concept stocks of stablecoins in the Hong Kong stock market collectively declined in the afternoon. Among them, Yaocai Securities (01428) saw its decline expand to over 20%, Yunfeng Financial (00376) fell nearly 16%, Lianlian Digital (02598) dropped over 9%, and Jinyong Investment (01328), Shiteng Holdings (02562), and Guotai Junan International (01788) all fell over 8%. The market generally worries that the licensing process may be slower than expected, posing performance and compliance pressure on related companies in the short term.
At the same time, the clarification of regulations also lays the foundation for the integration of digital assets and traditional finance, which may become a long-term benefit. BiyaPay analysts pointed out that as policies continue to be implemented, the compliance and internationalization of the Hong Kong financial market will continue to improve.
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