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BTCC / BTCC Square / Global Cryptocurrency /
Hong Kong’s Upcoming Stablecoin Rules to Challenge US Dollar Dominance

Hong Kong’s Upcoming Stablecoin Rules to Challenge US Dollar Dominance

Author:
Global Cryptocurrency
Published:
2025-06-30 05:29:02
7
1
BTCCSquare news:

Hong Kong is poised to implement stringent new regulations for stablecoin issuers next month, requiring licenses for operators of fiat-referenced tokens. Financial Secretary Paul Chan has framed the MOVE as part of a broader shift toward de-dollarization, emphasizing stablecoins' role in facilitating regional trade with local currencies.

The high capital and reserve requirements may deter major global issuers like Circle and Tether from participating. Chan's comments align with Beijing's strategic push to reduce reliance on the US dollar, positioning stablecoins as a cost-effective alternative for cross-border payments and capital markets.

|Square

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