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Hong Kong Drops Regulatory Bombshell: New Stablecoin Rules Shake Up Crypto Market
Hong Kong Drops Regulatory Bombshell: New Stablecoin Rules Shake Up Crypto Market
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Hong Kong just fired the starting gun for stablecoin regulation—and issuers better lace up.
The city’s financial watchdogs dropped long-awaited guidance today, spelling out how dollar-pegged tokens can operate without getting crushed by compliance. No more wild west: issuers now face capital reserves, redemption guarantees, and the kind of audits that make CFOs sweat.
Why it matters: With Tether’s shadow looming, regulators are drawing lines in the sand. Stablecoins either play by banking rules or get treated like casino chips—finally forcing the 'stable' part to mean something.
Bonus jab: Because nothing says 'trust' like a government stepping in after $40B in crypto collapses.
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