Buy Crypto- Markets
Futures- Spot
- Copy Trade
- Earn
- More
Hong Kong Legislator: Stablecoins Have No Pump-and-Dump Opportunity, Regulations Reference Industry Practices in the US, Japan, and EU
By: theblockbeats.news|2025/08/03 11:52:23
0
Share
BlockBeats News, August 3rd. Hong Kong Legislative Council member Ted Hui said in an interview that the core feature of a fiat-backed stablecoin is that it must be 100% backed by highly liquid fiat reserves, and the main current function of a fiat-backed stablecoin is still international payments, with no opportunity for speculation.
During the drafting of the "Stablecoin Regulations," reference was made to the United States, Japan, and the EU's MiCA (Markets in Crypto-Assets) regulation, as well as Singapore's Payment Service Act (PSA). The legislation considers international circulation and demand, adhering to both international and national standards. In addition, Hui also mentioned that Hong Kong's stablecoin should not compete for market share with existing products but should explore new markets. (Daily Economic News)
You may also like
Connecting encryption, TradFi, and payments, is Gate completing the final puzzle of the "super APP"?
Why is it said that TradFi is not a short-term narrative?
a16z Crypto Operating Partner: Wall Street is undergoing its biggest infrastructure upgrade in 30 years
What is currently happening is the largest infrastructure upgrade in the capital market since the rise of electronic trading thirty years ago.
a16z Crypto's latest research: What is the key to the large-scale application of DeFi?
The widespread adoption of on-chain financial applications still faces an invisible barrier: the lack of transaction order certainty. Under a single leader architecture, nodes can delay, censor, or even front-run user transactions, thus completely distorting the game among market makers, bidders, an...
Founder of Delphi Labs: My observations and feelings about the AI ecosystem in China in two weeks
Delphi Labs co-founded a deep observation of China's AI ecosystem: hardware manufacturing is quietly winning the global war at an astonishing speed, but the software sector is mired in an overvaluation bubble and the homogenization of founders.
AI Seating Chart Released | Rewire News Morning Brief
Musk and Ultraman are not above
Is the era of Embodied AI's "GPT Moment" Approaching? Axis Robotics Announces End of Testing, Set to Launch on Base Chain
Axis's answer is yes - provided that a thorough reshaping of the scale-up production of robotic data is required, and a redefinition of the deployment paradigm in the physical world.
Meta Layoff Explained: On the same day as laying off 700 people, they handed out $90 billion in retention bonuses to executives
The money saved from laying off 700 people is approximately equivalent to Meta's 1.5 days of AI infrastructure spending
Binance Cracks Down on Market Makers, a Long-overdue Trial
True accountability requires regulatory involvement, enforcement agencies, rather than allowing the exchange to act as its own judge.
Wall Street Collective Bearish on 2026, Will the Oil Crisis Trigger a Recession?
「There is no middle ground; the result will definitely be one of two extremes.」
Hollywood's AI Necromancy: Death Is No Longer the End of Labor
Post-Mortem Economics
a16z: DeFi Struggling to Support a True Financial Market
More important than throughput is the determinism and fairness of transaction execution.
Morning News | Bitmine launches institutional Ethereum staking platform MAVAN; Franklin Templeton launches tokenized ETF; Morgan Stanley to issue and sponsor Bitcoin ETF
Overview of Important Market Events on March 25
Kalshi early employees: Whoever controls the traffic controls the market
Robinhood can decide where tens of millions of contracts go with the flip of a switch, while the exchanges do all the hard work but cannot control their own fate.
Tether signs contracts with four major audits, Circle's compliance moat collapses, stock price plummets by 20%
USDT, with a market value of 184 billion dollars, is undergoing its first comprehensive inspection in history.
Proudly Introducing Aethir Claw: Your AI Agent, Our Infrastructure
Explore Aethir Claw, an easy-to-deploy AI agent solution that offers fully isolated VPS, encrypted payments, and highly competitive pricing.
Why Buying Gold Can Lead to Bankruptcy
"There is no issue with 'buying gold,' the issue is 'buying whose gold.'"
If the US Treasury yield rises above 5%, will Bitcoin drop below $50,000?
During the US-Iran war, as the bond market exhibited a **"meltdown"** scenario, Bitcoin's upward momentum is showing signs of exhaustion.
Circle Plunges 20%: Crypto Earthquake Triggered by Draft Proposal
Compliance gave Circle both a suit of armor and a ball and chain.
Connecting encryption, TradFi, and payments, is Gate completing the final puzzle of the "super APP"?
Why is it said that TradFi is not a short-term narrative?
a16z Crypto Operating Partner: Wall Street is undergoing its biggest infrastructure upgrade in 30 years
What is currently happening is the largest infrastructure upgrade in the capital market since the rise of electronic trading thirty years ago.
a16z Crypto's latest research: What is the key to the large-scale application of DeFi?
The widespread adoption of on-chain financial applications still faces an invisible barrier: the lack of transaction order certainty. Under a single leader architecture, nodes can delay, censor, or even front-run user transactions, thus completely distorting the game among market makers, bidders, an...
Founder of Delphi Labs: My observations and feelings about the AI ecosystem in China in two weeks
Delphi Labs co-founded a deep observation of China's AI ecosystem: hardware manufacturing is quietly winning the global war at an astonishing speed, but the software sector is mired in an overvaluation bubble and the homogenization of founders.
AI Seating Chart Released | Rewire News Morning Brief
Musk and Ultraman are not above
Is the era of Embodied AI's "GPT Moment" Approaching? Axis Robotics Announces End of Testing, Set to Launch on Base Chain
Axis's answer is yes - provided that a thorough reshaping of the scale-up production of robotic data is required, and a redefinition of the deployment paradigm in the physical world.
App