#香港稳定币新规

【Major Policy Implementation】Hong Kong officially releases the "Regulatory Framework for Stablecoin Issuers"! $HKDG becomes the first compliant stablecoin pilot, and the market landscape is about to be reshuffled

Key Points of the New Regulations

✅ *Licensing System: Starting October 2024, all stablecoin issuers must operate with a license

✅ 100% Reserve: Must consist of HKD/USD deposits + short-term government bonds (commercial paper prohibited)

✅ Mandatory Audits: Monthly reserve reports must be published, with violators facing fines of up to 10 million HKD

Three Major Market Impacts

1️⃣ $USDT/$USDC Face Delisting:

- Unlicensed stablecoins must be removed within 6 months

- OTC premiums have fallen to -3.5%

2️⃣ $HKDG Rises:

- The first compliant HKD stablecoin supported by HSBC

- Testing phase APY reaches 8% (limited to licensed exchanges)

3️⃣ DeFi Mass Migration:

- Hong Kong Monetary Authority approves 3 compliant chains ($HBAR $XRP)

- Traditional financial assets are accelerating on-chain

Emergency Response Strategies

• Immediately transfer unlicensed stablecoins to cold wallets

• Prioritize using licensed exchanges (HashKey/OSL)

• Monitor stablecoin entry points for Hong Kong virtual banks (ZhongAn Bank is now open)

Important Time Points

• August 1: Deadline for first batch of license applications

• December 31: Unlicensed stablecoins will be completely delisted

Do family members think the new regulations will drive more institutions to enter the market?