The Hong Kong Special Administrative Region Government recently expressed welcome for the passage of the “Stablecoin Bill” by the Legislative Council, which aims to establish a licensing system for stablecoin issuers in Hong Kong. The move seeks to improve the regulatory framework for virtual asset activities, maintain financial stability, and promote financial innovation. By setting up a clear regulatory framework, it not only enhances investors’ and institutions’ trust in the local virtual asset market but also attracts more compliant enterprises to choose Hong Kong as a base for business development, enriching the digital financial ecosystem.
Safeheron, a provider of digital asset security custody solutions, held the “Decoding the Open Future of Cryptographic Payments – Safeheron Global Open Source Technology and Product Release Conference”. The event aimed to explore how open-source technology can reshape the blockchain ecosystem and showcase its transformative power. As a pioneer in blockchain security, Safeheron comprehensively demonstrated the profound impact of open-source technology in the industry through two themes: “Next-generation finance: Efficiency and transparency” and “Stablecoins: The key to scenario-based implementation”.
In the United States, the stablecoin bill known as the “Guide and Establish National Innovation for US Stablecoins Act” (GENIUS Act) has made significant progress. It recently passed a procedural vote in the US Senate with 66 votes in favor and 32 against, marking a key step forward. The bill will now enter the stage of a full Senate vote. If approved by the Senate, it will need to be submitted to the House of Representatives for review and approval before being signed into law by the president.
During a keynote speech at the “Bitcoin 2025” conference in Las Vegas on Wednesday, Vance stated, “The current administration does not believe that stablecoins will threaten the integrity of the US dollar. On the contrary, we view them as a ‘multiplier’ of the US economic strength.” This remark highlights the administration’s perspective on stablecoins as a means to enhance economic influence rather than a threat to the dollar’s dominance.
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