The new regulations for Hong Kong stablecoins are in place! From August, certified currencies will receive a "safety identification card," and major opportunities arise for cross-border payments and the Web3 track!
Brothers, Jin Zhu is here! Today brings a nuclear-level news: Hong Kong Monetary Authority President Yu Weiwen personally announced: (Stablecoin Regulation) officially takes effect on August 1! This means the world’s first comprehensive regulatory framework for stablecoins is about to land in Hong Kong, with the first batch of licensed stablecoins focusing on cross-border trade settlement and Web3 application scenarios. A hundred billion market is about to be reshuffled!
One, core of the new regulations: Issue "identification cards" for stablecoins.
Comprehensive regulatory coverage
All stablecoins issued and promoted in Hong Kong must operate with a license, and reserve assets must be 100% monitored by the Monetary Authority, equivalent to issuing an official "safety identification card" for stablecoins.
Dual focus on scenarios
The first batch of licenses will be prioritized for projects serving cross-border trade and the Web3 ecosystem, with giants like USDT and USDC already queuing up to submit applications.
Two, market reaction: Benefits have begun to be realized in advance.
Platform tokens surge: HT, OKB, and other platform tokens based in Hong Kong have risen over 15% in 24 hours, with the market betting on a surge in compliant traffic. Compliant stablecoins are racing ahead: The weekly trading volume of offshore RMB stablecoin CNHC has surged threefold, with institutional OTC large orders frequently appearing. Exchanges are urgently positioning: HashKey quickly launched a compliant stablecoin section, and second-tier platforms like Gate revised their listing rules overnight.
Three, current strategy: Focus on three certain opportunities.
List of licensed candidates lurking
Key focus on projects that have publicly disclosed reserve audit reports; the first batch of licenses will likely go to those with mature technology.
Cross-border trade chain layout
Hong Kong's local foreign trade service providers' stock prices remain low, and the new regulations will directly stimulate the revaluation of their blockchain payment businesses.
Web3 ecosystem leverage targets
Tokens from compliant exchanges in Hong Kong and wallets supporting fiat currency channels will be the biggest beneficiaries.
Four, future forecast: The landscape of Asian stablecoins is about to change significantly.
End of regulatory arbitrage:
Unlicensed stablecoins will be forced to exit the Hong Kong market, and the risk of trading through non-compliant channels will surge after August.
New path for RMB internationalization:
The daily trading volume of offshore RMB stablecoins may exceed 10 billion, partially replacing the Hong Kong dollar's cross-border functions.
On the eve of Web3 explosion:
Compliant stablecoins + Hong Kong's virtual asset legislation will catalyze the landing of innovative applications such as on-chain bill settlement and DeFi real yield protocols.
Jin Zhu frankly states: This new regulation essentially issues a "credit passport" for quality stablecoins, and in the long run, compliant funds will accelerate the replacement of gray assets. However, in the short term, we need to be cautious of some platforms using policy to hype air coins; remember to only engage with assets clearly backed by licensed institutions. The true wealth code lies in the reconstruction wave of cross-border trade's underlying settlement.
As the market continues to change, we must closely monitor market signals to seize new entry opportunities. Like + comment, let’s navigate the bull market together and grasp this major opportunity!
