the "Stable Coin Ordinance" in Hong Kong, China will take effect in August. The Financial Secretary of Hong Kong, Paul Chan, stated that the Hong Kong Monetary Authority is currently consulting the market on implementing the ordinance guidelines. The guidelines will be announced within this month, and will specifically involve anti-money laundering and other related requirements. He also mentioned that the number of stable coin licenses issued will be in single digits. He hopes to receive applications after the ordinance takes effect, with the goal of issuing licenses within this year. As for whether financial institutions that obtain licenses can issue stable coins pegged to the RMB, he said that if it involves currencies from other jurisdictions, discussions will need to be held with the relevant institutions.
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Hong Kong Treasury Secretary: Aim to issue stablecoin licenses this year
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BTC breaks $90,000
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The US spot Bitcoin ETF saw a net inflow of $54.8 million yesterday.
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Economists expect the Federal Reserve to cut interest rates in December, with two more cuts possible in 2026.
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He Lifeng held a video call with U.S. Treasury Secretary Bessant and Trade Representative Greer.
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Hassett: No discussion with US President Trump regarding the Federal Reserve Chair (selection)
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White House National Economic Council Director Hassett: It's Time for the Fed to Cautiously Cut Interest Rates
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The yield on the 10-year U.S. Treasury note rose 2 basis points to 4.12%, a new high since November 2020.
yield on the US 10-year Treasury rose 2 basis points to 4.12%, reaching a new high since November 2020. -
Social media platform "X" has been fined €120 million by the European Union for violating content regulations.
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