Hong Kong's financial regulatory system is undergoing significant changes, with the stablecoin regulations officially taking effect on August 1. This move marks a new phase in Hong Kong's strategic layout in the digital finance sector, attracting high attention from the global Crypto Assets industry.

The Deputy Secretary for Justice of Hong Kong, Zhang Guojun, elaborated on the core structure of the new regulations, emphasizing the importance of the three pillars: licensing system, asset savings management, and technology and behavioral regulation. This regulatory framework aims to build a trustworthy market environment, laying the foundation for the orderly and healthy development of the stablecoin market in Hong Kong, while consolidating Hong Kong's position as a global leading financial center.

The implementation of the new regulations is expected to trigger intense competition. It is reported that more than 50 well-known enterprises have expressed their intention to apply for licenses, including state-owned enterprises from the mainland, top financial institutions, and internet giants. However, the President of the Hong Kong Monetary Authority, Yau Wai-man, stated that the number of licenses issued in the initial phase will be strictly controlled to a single digit, which will undoubtedly intensify the competitive landscape within the industry.

The Monetary Authority has established strict entry thresholds, including a paid-in capital requirement of HKD 25 million, 100% reserve asset segregation, and a real-time redemption mechanism. These high standards are aimed at ensuring that licensed institutions possess sufficient strength and risk management capabilities to maintain market stability and protect investors' interests.

It is widely expected in the industry that the scarcity of stablecoin licenses may drive a significant rise in the stock prices of related companies. Market participants recalled the precedent where Guotai Junan International's stock price soared by 200% due to obtaining a virtual asset trading license, believing that a similar market reaction may occur again.

With the implementation of the regulatory framework, Hong Kong has officially opened a new chapter in the global Crypto Assets landscape. This will not only attract more international capital and talent but also provide new opportunities for Hong Kong to deepen its financial ties with the mainland and international markets. In the future, Hong Kong is expected to leverage its unique position and sound legal system to become a key bridge connecting traditional finance and the digital asset world.