Legislator Wu Jiezhuang: Stablecoin Regulations Will Drive Hong Kong to Become Global Web3 Hub

In breaking news, Hong Kong legislator Wu Jiezhuang stated on social media that the stablecoin regulations in Hong Kong officially came into effect today. He is pleased to see numerous global institutions coming to Hong Kong to understand or express their intention to apply for stablecoin licenses, which will drive Hong Kong to become a global Web3 hub. However, industry practitioners and relevant institutions are reminded that after the law takes effect, they must strictly comply with regulations when engaging in stablecoin-related businesses. Recently, many industry insiders have inquired whether offline cryptocurrency exchange shops can continue to exchange and sell so-called stablecoins. It is advised that everyone pay close attention to:

- Carefully study the specific provisions of Article 6 and Article 9 of the stablecoin regulations;

- Encourage users in Hong Kong who are interested in cryptocurrency investment trading to choose compliant trading platforms in Hong Kong for their operations.

Related Articles