fahad_ali_ crypto

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#BNB创新高 $BTC $BNB

Concerning Stablecoins! The Hong Kong Financial Secretary's Recent Statements.

Recently, Hong Kong Financial Secretary Paul Chan expressed several important views on stablecoins, mainly focusing on the positioning, regulatory policies, and development direction of stablecoins, which are as follows:

Clarifying the Positioning of Stablecoins: Paul Chan emphasized that stablecoins are essentially a payment tool aimed at addressing long-standing pain points such as slow cross-border payment speeds, high costs, and low efficiency. Its core value lies in serving the real economy, as an alternative to the traditional financial system, with the potential to reshape payment and capital market activities.

Emphasizing Regulation and Compliance: The "Stablecoin Ordinance" was passed by the Hong Kong Legislative Council on May 21 and will take effect on August 1. After the ordinance comes into effect, the Hong Kong Monetary Authority will promptly handle licensing applications, encouraging compliant businesses to operate. Issuers must apply for a license from the Hong Kong Monetary Authority and meet minimum capital requirements of HKD 25 million, 100% high liquidity asset reserves, and no additional redemption conditions. Additionally, issuers must comply with a series of risk management and anti-money laundering requirements, as well as provide specific business justifications, such as application scenarios, explaining how their stablecoin business can effectively address pain points in economic activities.

Promoting the Expansion of Application Scenarios: Paul Chan stated that the Hong Kong Special Administrative Region government and financial regulatory authorities will strive to create a favorable market environment, coupled with necessary regulatory measures, to encourage issuers to extend the application of stablecoins to various scenarios, helping to address substantial pain points in both business operations and citizens' lives. The "Hong Kong Digital Asset Development Policy Declaration 2.0" proposes to "promote application scenarios and cross-sector cooperation," emphasizing that stablecoins have the potential to bring about changes in payment and capital market activities, including cross-border payments.

Elaborating on Strategic Significance: Paul Chan believes that the stablecoin ecosystem will attract global capital and technology to converge in Hong Kong, helping Hong Kong to become the world's largest cross-border asset management center within 2-3 years. Through a "multi-currency peg + value regulation" model, Hong Kong allows pegging to currencies such as the Renminbi and US Dollar, avoiding reliance on a single US Dollar while providing a buffer for the mainland to explore the internationalization of the offshore Renminbi, and also consolidating Hong Kong's status as an international financial center.

Look for missing numbers！🧧🧧🧧
$BTC

I love Binance
I love Binance
I love Binance💕

⚡️Congratulations Lightning @LnfiNetwork is live on Binance

A month ago, the official TG points event was launched, and you could just enter your address. At that time, I was a bit confused, but I hope you all participated.

Currently, it is clear that TG points can be exchanged for $LN airdrop, it just depends on how many points you have, and it seems that not many participated.

#RWA热潮 #BNB创新高 #NFT板块领涨 #币安HODLer空投C #山寨季來了？

#ETH Can ETH reach $5,000?🧧🧧

During the market breakout phase, choosing mainstream coins for trading is the right strategy to follow the trend.

Those who are truly skilled at speculation often do not rely on astonishing achievements but rather win steadily. Sometimes ETH and MeMe alternate in their rises; this rhythm, against the backdrop of ETH continuously reaching new highs and Doge frequently exploding in 2021, has become the market's 'muscle memory.' Additionally, using leveraged tokens is an effective means to balance capital efficiency and reduce wear from frequent fluctuations.

In the consolidation phase, it is more suitable to focus on niche high-volatility coins to achieve victory in unexpected ways. These types of coins usually do not require excessive positions to yield decent returns, and their biggest advantage lies in: the potential loss range is clear and controllable.

Overall, adopting these two strategies at different market stages, whether in terms of risk-reward ratio or operational certainty, is currently a more optimal response.

This year's three major hot topics in the ETF track are emerging - XRP, SOL, LTC.

Among them, LTC is expected to become the biggest dark horse. Although its market value is only $9 billion, making it seem the 'weakest', it completed key materials as early as January, and even the Nasdaq's 19b-4 filing has been submitted to the SEC, officially entering the 240-day approval countdown, with results expected by September 17 at the latest.

In comparison, projects like XRP and DOGE only started submitting documents in June and July, just entering the initial stages of the process. LTC's 'head start' operation directly positions it at the front of the approval window, making it likely to receive priority approval.

Investing in LTC now is somewhat like preemptively positioning for a Bitcoin spot ETF; once approved, the chances of a violent surge are extremely high!

Moreover, the smaller the market value, the greater the potential for a rise. Compared to XRP with a market value of $200 billion, LTC with a market value of $9 billion has stronger explosive potential!
But it is also a reminder to watch the timing when entering the market; don’t act blindly or impulsively!