35 h. ago Hong Kong’s stablecoin law opens floodgates for boom in digital assets: brokers

Hong Kong has surged ahead of its global rivals with its landmark stablecoin law, setting the stage for a boom in digital assets and an injection of fresh liquidity into the market, according to brokers. “We’re seeing a significant trend in investments related to stablecoins on our platform, which highlights the growing importance of this sector,” said Daniel Tse, managing director of Futu Securities International, Hong Kong’s largest online brokerage firm, in a written interview on...

Events

6 d. ago With Hong Kong’s stablecoin law, mainland firms are preparing for a market boom

Hong Kong’s move to legalise stablecoins – cryptocurrencies that maintain a fixed value by being pegged to a reference asset – is grabbing the attention of mainland institutions, as a leading Chinese brokerage predicts a boom in tokenised real-world assets (RWA) in the city. While Beijing has remained largely quiet on Hong Kong’s new stablecoin bill in the two weeks since it was passed, paving the way for the issuance of such assets in the city, discussions about the market and geopolitical...

Economics

7 d. ago My Take | Hong Kong’s stablecoin ambitions offer Chinese yuan a way into the crypto world

My Take | Hong Kong’s stablecoin ambitions offer Chinese yuan a way into the crypto world  South China Morning Post

Politics

1 week ago Hong Kong’s crypto industry optimistic about stablecoin ‘legal clarity’

In the days after Hong Kong passed a bill to regulate stablecoins on May 21, people in the industry celebrated the government’s forward-looking stance on the cryptocurrency assets, but its stringent requirements – similar to how it regulated other virtual assets – could be a double-edged sword in the near term. “Regular independent audits and strict disclosure obligations further bolster confidence in the sector, although in the short run it may increase operational costs and limit market entry,...

Politics

2 w. ago Hong Kong passes stablecoin law, clearing way for licensed issuers to sell to public

Law sets up a ‘risk-based, pragmatic, and flexible regulatory regime’ with public protection in mind, head of city’s monetary authority says.

Politics

2 w. ago Hong Kong passes stablecoin law, clearing way for sales to public

Hong Kong lawmakers passed a law on Wednesday that establishes a regulatory regime for stablecoins, paving the way for issuers to obtain licences and sell the digital assets to the public. A stablecoin is a type of cryptocurrency that is pegged to a specific reserve asset, such as the US dollar or any fiat currency. The Stablecoins Bill passed by the Legislative Council, which will take effect later this year, requires stablecoin issuers in the city to obtain a licence from the Hong Kong...

Politics