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Opinion: Hong Kong Stablecoin Development Should Anchor Main Battlefield of Cross-Border Trade and Real Economy
Summary: According to reports, the Hong Kong 'Stablecoin Regulations' will officially take effect on August 1, 2025. Song Min, Dean of the China Central Development Research Institute at Wuhan University, stated that the emergence of stablecoins is a technological necessity, but technology cannot replace regulation. China should cherish the opportunity to establish a regulatory framework and ...
According to reports, the Hong Kong 'Stablecoin Regulations' will officially take effect on August 1, 2025. Song Min, Dean of the China Central Development Research Institute at Wuhan University, stated that the emergence of stablecoins is a technological necessity, but technology cannot replace regulation. China should cherish the opportunity to establish a regulatory framework and adopt a path of institutional advancement, scenario implementation, and step-by-step progress.
Hong Kong stablecoins will serve areas such as cross-border trade settlement and on-chain RWA assets, boosting the real economy. Hong Kong plays an irreplaceable strategic role in the internationalization of the Renminbi, with the biggest breakthrough in cross-border trade settlement, requiring the introduction of more Renminbi-denominated financial products. (NBD News)
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Link: Opinion: Hong Kong Stablecoin Development Should Anchor Main Battlefield of Cross-Border Trade and Real Economy [Copy]
