#BTC

Quickly send an analysis of the market surge, large funds from Dongda are driving the surge

The Legislative Council of the Hong Kong Special Administrative Region passes the "Stablecoin Regulation Draft":

On May 21, the Legislative Council of the Hong Kong Special Administrative Region passed the "Stablecoin Regulation Draft", which the region welcomes. The draft establishes a licensing system for fiat stablecoin issuers and improves the regulatory framework for virtual assets to safeguard financial stability and promote innovation.

After the regulation is implemented, issuing fiat stablecoins in Hong Kong or issuing fiat stablecoins pegged to the Hong Kong dollar both require a license from the Financial Management Commissioner. Issuers must comply with relevant regulations in areas such as reserve asset management, redemption, and risk management. The Financial Management Commissioner will further consult on detailed regulatory requirements in due course.

However, the funds from Dongda are primarily retail investors' money, so the possibility of both driving up prices and unloading is not ruled out!!!

Everyone should remain observant! Do not act rashly.