Hong Kong's stablecoin new regulations will take effect in 2025, with digital asset volume reaching 17.2 billion HKD.

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Hong Kong accelerates the regulatory pace for digital assets, new stablecoin regulations will be implemented in 2025

Hong Kong's financial regulatory landscape is about to undergo significant changes, with new stablecoin regulations set to officially take effect on August 1, 2025. Financial Secretary Paul Chan revealed that digital assets have become a crucial driver of trading volume for local banks, amounting to a total of HKD 17.2 billion last year.

The new regulation introduces a licensing system for stablecoin activities, aiming to optimize the market environment and enhance liquidity. According to the new rules, stablecoin issuers can peg their products to multiple fiat currencies, not just the Hong Kong dollar. This flexibility is expected to further enhance Hong Kong's competitiveness as an international financial center.

In an article titled "Accelerated Development, Seeking Progress While Maintaining Stability," Chen Maobo emphasized that this move aims to create a more favorable development environment for financial institutions. The introduction of new regulations provides a structured regulatory framework for the digital asset industry, laying the foundation for sustainable growth.

It is worth noting that Hong Kong has always been at the forefront of digital financial innovation. Since 2020, Hong Kong has taken the lead in launching a comprehensive licensing system for virtual asset trading platforms, setting a global precedent.

With the growth of digital assets, Hong Kong advances stablecoin regulation

In the cryptocurrency market, Bitcoin (BTC) remains the main player in the Hong Kong market. According to the latest data, the price of BTC is $105,894.24, with a market capitalization of $2.10 trillion, accounting for 63.74% of the market share. Its 24-hour trading volume is $38.2 billion, a year-on-year increase of 10.86%, reflecting the market's continued enthusiasm and activity for Bitcoin.

With the implementation of the new stablecoin regulatory framework, Hong Kong is moving towards becoming a global leading digital asset center. This initiative will not only attract more international investors and projects but will also provide strong support for the healthy development of the entire industry.

BTC-1.21%
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NFT_Therapyvip
· 08-15 07:09
The regulatory boots have finally landed.
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TokenAlchemistvip
· 08-15 07:09
smh... hk is just recycling sg's regulatory alpha. inefficient market makers gonna get rekt tbh
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MetaverseVagabondvip
· 08-15 07:09
Hong Kong is really amazing! It looks like it's going to take the lead.
View OriginalReply0
DataBartendervip
· 08-15 06:48
When did Hong Kong run so fast?
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