Jie Zhuang Ng: The Stablecoin Regulation Will Surely Drive Hong Kong to Become a Global Web3 Hub

BlockBeats News, August 1st. Hong Kong Legislative Councilor Wu Jiezhuang posted on social media, stating that the Hong Kong Stablecoin Regulation officially came into effect today. He is pleased to see many institutions from around the world visiting Hong Kong to learn about or express their intention to apply for a stablecoin license, which will undoubtedly drive Hong Kong's development as a global Web3 hub. At the same time, industry practitioners and relevant institutions need to be reminded: after the law comes into effect, any business involving stablecoins must strictly comply with regulations. Recently, many industry insiders have inquired whether offline "cryptocurrency exchange shops" can continue to exchange and sell so-called "stablecoins." It is recommended that everyone pay close attention to:

Thoroughly study the specific provisions of Article 6 and Article 9 of the Stablecoin Regulation;

Urge users in Hong Kong who are interested in participating in cryptocurrency investment transactions to choose Hong Kong compliant trading platforms for their operations.