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Legislator Wu Jiezhuang: Hong Kong Stablecoin Regulation Can Learn from EU MiCA Experience, Enhance Cross-Border Coordination
Summary: Legislator Wu Jiezhuang of Hong Kong stated that the passage of the 'Stablecoin Regulation' signifies further improvement in Hong Kong's regulation of crypto assets. The regulation, based on international standards, establishes a high threshold licensing system, emphasizes application scenarios and business sustainability, and positions stablecoins as payment tools. The Hong Kong Monetary Authority communicates regulatory ...
Legislator Wu Jiezhuang of Hong Kong stated that the passage of the 'Stablecoin Regulation' signifies further improvement in Hong Kong's regulation of crypto assets. The regulation, based on international standards, establishes a high threshold licensing system, emphasizes application scenarios and business sustainability, and positions stablecoins as payment tools. The Hong Kong Monetary Authority communicates regulatory expectations with the market through a 'sandbox mechanism'. Wu pointed out that the key in the future lies in the effective integration of stablecoins with the traditional financial system, and suggested that Hong Kong can learn from the EU MiCA experience to enhance cross-border coordination.
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Link: Legislator Wu Jiezhuang: Hong Kong Stablecoin Regulation Can Learn from EU MiCA Experience, Enhance Cross-Border Coordination [Copy]
