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#香港稳定币监管# It seems that Hong Kong's stablecoin regulation has taken a substantial step forward. The "Stablecoin Ordinance" officially came into effect on August 1, marking the further improvement of Hong Kong's regulatory framework in the encryption field. From sandbox testing to formal regulation, this process has been quite cautious. However, the threshold is set quite high, and the first license is expected to be issued early next year.
For those of us who are concerned about the encryption market, this means more opportunities and challenges. On one hand, the compliance of stablecoins is beneficial for the long-term healthy development of the market; on the other hand, high barriers also mean that competition will be more intense. Next, I will closely monitor the movements of licensed institutions to see what new trading opportunities their stablecoins will bring. After all, practice brings true knowledge, and only real transactions can verify how effective the regulation is.