JD.com's stablecoin has entered Hong Kong's "sandbox" testing

Shen Jianguang, Vice President and Chief Economist of JD Group, said that JD has entered the stablecoin issuance "sandbox" testing phase in Hong Kong. The relevant legislation for stablecoins in Hong Kong is still being promoted, with no clear terms yet. It is expected that after the approval of the "Stablecoin Regulations Draft" in Hong Kong, the Hong Kong Monetary Authority can formally issue specific regulations for the stablecoin.