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#香港稳定币新规 Hong Kong stablecoin new regulations effective August 1: licensing system implemented, only licensed institutions can sell to retail; reserve assets must be of high quality and liquidity, strictly isolated and audited, and support redemption at par; licensed personnel's core team must be based in Hong Kong, prohibited from serving restricted areas, and strict control over advertising to prevent fraud. Illegal currency pegging is not currently regulated, but must still comply with anti-money laundering rules.