The Hong Kong Financial Regulatory Authority passed a new Starble Leco’s legislation before the US genius law voting and adoption.
Hong Kong’s new stable rules will allow this area to maintain financial innovation in the digital asset sector.
The adoption of Stablecoins in the area by the Hong Kong Legislative Council aims to design HKD Stablecoin by Standards Bank and Animoca brands.
Hong Kong promotes encryption regulations before the US professional creepto administration.
The Hong Kong Legislative Council has passed a new Starble Lecoin Act to support Stabloin, which is supported by Fiat, such as USDC and RLUSD, and provides an improved right in this area.
The new rule is a track for the upcoming Hong Kong Dollar Stablecoin of Standard Chartered Bank and Animoca Brands.
The new legislation that supports the Stablecoin issuer opens a new door for solving and trading Hong Kong. According to the rules, the issuer must have a minimum capital requirement of $ 25 million.
The adoption of Hong Kong’s Stablecoin also comes after the Aspire program, led by Hong Kong’s Securities and FutureS Commission (SFC), promotes digital assets and competes with Western international innovators.
Hong Kong’s upcoming HKD Stablecoin will ideal for border transactions and will increase the use of financial payment and commercial HKDs.
Similarly, the United States has seen Fiat’s stable coin as a way to increase demand for the US Treasury and minimize debt affecting USD.
Hong Kong to adopt and utilize digital assets in the financial sector
Hong Kong has adopted the digital asset law faster than other countries. Conversation on adopting the Stablecoin law and encryption was mentioned in late 2024.
As part of the ASPIRE Roadmap, Hong Kong will continue to adopt digital assets and stabble recons to merge the existing traditional financial infrastructure and encryption.
The United States will pass the genius law by next Monday, which allows bank groups and institutions to integrate stable coins and digital assets according to clear regulatory guidelines.