- Buy Crypto
- Markets
- Futures
- Spot
- Copy Trade
Earn- More
Hong Kong Treasury Bureau's James Lau: Only a small number of stablecoin licenses will be issued in the first phase
BlockBeats News, July 13th: Eddie Yue, Chief Executive of the Hong Kong Monetary Authority, stated in an interview that only a small number of stablecoin licenses would be issued in the first phase. As for whether a RMB-based stablecoin could be issued, Yue mentioned that there are no restrictions on the pegged currency; however, if it involves currencies from other regions, it may be necessary to consult with relevant institutions.
Yue emphasized that the government will take the lead in promoting stablecoin applications, especially focusing on cross-border payment scenarios to help developing countries cope with currency devaluation and financial system risks. He also revealed that Hong Kong will promote the tokenization of financial assets in the future. Following green bonds, the next step is expected to extend to the trading of Exchange-Traded Funds (ETFs), and he believes that commodity trading, such as metals, can also be explored for tokenized payments.
You may also like
Enso’s Recent Liquidation Sparks Market Volatility
Key Takeaways Enso experienced a dramatic $11.67 million in liquidations, with a significant 70.7% involving short positions, indicating…
South Korea’s Coinone Considers Stake Sale Amid Rising Coinbase Interest
Key Takeaways Coinone, a regulated cryptocurrency exchange in South Korea, is contemplating a significant stake sale as consolidation…
Could Europe Sell US Debt if a Greenland Deal Doesn’t Come Through?
Key Takeaways The geopolitical tensions involving Greenland could lead Europe to consider offloading US debt as a strategic…
Revolut Pursues Banking Expansion in Peru Amid Latin America Remittance Strategies
Key Takeaways Revolut seeks a banking license in Peru as part of its strategic expansion across Latin America,…
CLARITY Act Stalls: Why Has the Interest-Bearing Stablecoin Become a Bank’s “Thorn in the Side”?
Key Takeaways The debate surrounding the CLARITY Act is primarily focused on interest-bearing stablecoins and their implications for…
South Korea considers changing the one-bank rule for crypto exchanges: An In-depth Review
Key Takeaways: South Korea is examining the current “one exchange–one bank” model amidst concerns of market concentration, potentially…
Hungary and Portugal Block Polymarket Prediction Market Amid European Crackdowns
Key Takeaways: Hungary and Portugal have moved to restrict access to Polymarket, increasing regulatory pressures on crypto-based prediction…
Hong Kong Association Highlights Risks in Crypto Licensing Framework
Key Takeaways The Hong Kong Securities & Futures Professionals Association (HKSFPA) warns that new crypto licensing may lead…
India Central Bank Suggests BRICS CBDC Link-Up As Members Explore Alternatives to Dollar Rails
Key Takeaways India’s central bank proposes a CBDC connectivity initiative for the upcoming 2026 BRICS summit. This move…
Venezuelan Man Faces 20 Years for Alleged $1B Crypto Money Laundering Scheme
Key Takeaways Jorge Figueira, a Venezuelan national, is accused of operating a complex international money-laundering network using cryptocurrency.…
Anchorage Digital Prepares for IPO with Significant $400M Fundraise
Key Takeaways Anchorage Digital is actively seeking to raise $200 million to $400 million in new funding, with…
The opening price is expected to drop by 75%, perhaps the first project to be rug pulled this year.
Traveling? ‘Evil Twin’ WiFi networks can steal crypto passwords
Key Takeaways “Evil Twin” WiFi attacks occur when hackers mimic legitimate WiFi networks to steal sensitive user data.…
Senate Judiciary Leaders Push for Revisions in Crypto Bill
Key Takeaways Senate Judiciary chair Charles Grassley and top Democrat Richard Durbin express concerns about the crypto market…
Predicting the market does not predict the truth; it simply rewards those who guess right
Trump Waves Hand, Stirs Venezuela's Game Hurricane
The Genius Stopping Law: Why Did Coinbase Backpedal at the Eleventh Hour?
Fact Check: How Much Money Did the University of Chicago Lose in its Crypto Investment?
Enso’s Recent Liquidation Sparks Market Volatility
Key Takeaways Enso experienced a dramatic $11.67 million in liquidations, with a significant 70.7% involving short positions, indicating…
South Korea’s Coinone Considers Stake Sale Amid Rising Coinbase Interest
Key Takeaways Coinone, a regulated cryptocurrency exchange in South Korea, is contemplating a significant stake sale as consolidation…
Could Europe Sell US Debt if a Greenland Deal Doesn’t Come Through?
Key Takeaways The geopolitical tensions involving Greenland could lead Europe to consider offloading US debt as a strategic…
Revolut Pursues Banking Expansion in Peru Amid Latin America Remittance Strategies
Key Takeaways Revolut seeks a banking license in Peru as part of its strategic expansion across Latin America,…
CLARITY Act Stalls: Why Has the Interest-Bearing Stablecoin Become a Bank’s “Thorn in the Side”?
Key Takeaways The debate surrounding the CLARITY Act is primarily focused on interest-bearing stablecoins and their implications for…
South Korea considers changing the one-bank rule for crypto exchanges: An In-depth Review
Key Takeaways: South Korea is examining the current “one exchange–one bank” model amidst concerns of market concentration, potentially…
App