- Topic
27k Popularity
28k Popularity
146k Popularity
4k Popularity
19k Popularity
- Pin
- 🎉 Hey Gate Square friends! Non-stop perks and endless excitement—our hottest posting reward events are ongoing now! The more you post, the more you win. Don’t miss your exclusive goodies! 🚀
🆘 #Gate 2025 Semi-Year Community Gala# | Square Content Creator TOP 10
Only 1 day left! Your favorite creator is one vote away from TOP 10. Interact on Square to earn Votes—boost them and enter the prize draw. Prizes: iPhone 16 Pro Max, Golden Bull sculpture, Futures Vouchers!
Details 👉 https://www.gate.com/activities/community-vote
1️⃣ #Show My Alpha Points# | Share your Alpha points & gains
Post your - 💙 Gate Square #Gate Blue Challenge# 💙
Show your limitless creativity with Gate Blue!
📅 Event Period
August 11 – 20, 2025
🎯 How to Participate
1. Post your original creation (image / video / hand-drawn art / digital work, etc.) on Gate Square, incorporating Gate’s brand blue or the Gate logo.
2. Include the hashtag #Gate Blue Challenge# in your post title or content.
3. Add a short blessing or message for Gate in your content (e.g., “Wishing Gate Exchange continued success — may the blue shine forever!”).
4. Submissions must be original and comply with community guidelines. Plagiarism or re
Analysis of Hong Kong's New Stablecoin Regulations: Clarifying Misunderstandings and Analyzing Development Prospects
Analysis of the Hong Kong Stablecoin Bill: Clarifications of Misunderstandings and Outlook on Development Prospects
The latest effective stablecoin legislation in Hong Kong has sparked widespread attention and controversy in the market. This article invites senior regulatory lawyer Wu Wenqian for an in-depth interpretation, clarifying multiple misunderstandings and discussing the development potential and challenges of stablecoins in Hong Kong.
Clarification of Main Misunderstandings
Foreign stablecoins such as USDT and USDC are not subject to the new regulations and can still be traded OTC in Hong Kong.
The legislation does not mandate all coin holders to complete KYC, but regulatory preference is for a closed-loop controllable model.
The Monetary Authority cannot arbitrarily determine stablecoin activities and must follow legal procedures.
Whether it is recognized as "issuing stablecoin in Hong Kong" depends on multiple factors, such as the location of the team operations, the company's registered location, the location of reserve assets, etc.
Regulatory Attitude and Market Response
The regulatory attitude in Hong Kong is relatively stable, and the policies are consistent.
Large institutions are highly enthusiastic, but there are still relatively few projects that can be implemented.
Regulatory agencies take a prudent approach, and the application process is strict.
Banks are actively participating mainly for two reasons: reserve asset management and business expansion.
Development Prospects and Challenges
Hong Kong stablecoins find it difficult to compete directly with USDT and USDC and need to seek positioning in compliance scenarios.
May form an independent ecosystem in fields such as LGBA and STO.
The future development depends on whether suitable application scenarios can be found.
International anti-money laundering pressure may lead to tighter regulations.
The Web3 atmosphere in Hong Kong is gradually warming up, but most projects are still in the preparation stage.
Overall, the Hong Kong stablecoin legislation provides a clear framework for industry development, but it still faces many challenges in terms of practical application and market acceptance. Future development requires the joint efforts of regulatory agencies, market participants, and technological innovators.