Brokerages Point Out Stablecoins Are Entering a New Era of Accelerated Regulation

On June 2, in the Hong Kong stock market, digital currency concept stocks collectively surged, with Lianlian Digital rising by 80% at one point during the day, Yika rising nearly 50%, and OKLink rising over 45%. By the close, Lianlian Digital's increase remained over 60%, OKLink rose over 40%, Yika rose nearly 40%, and ZhongAn Online rose nearly 10%. From a policy perspective, there has been a continuous stream of positive news for the digital currency industry recently, especially with stablecoins emerging as a new focus in the global financial market. On May 30, the Government of the Hong Kong Special Administrative Region published the "Stablecoin Ordinance" in the Gazette, which means the "Stablecoin Ordinance" has officially become law. According to the current progress, compliant Hong Kong stablecoins are expected to be officially launched by the end of this year. Additionally, the United States is also accelerating the advancement of stablecoin regulatory legislation. Some brokerage firms have pointed out that stablecoins are entering a new phase of accelerated regulation and will be regarded as an important financial innovation tool, with expectations of continued policy support and further opening of the industry's development space.