Lawyer: Hong Kong Stablecoin Will Not Directly Compete with USDT/USDC
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最新报道：According to Bijie.com, on August 9 (UTC+8), Wu Wenqian, a senior compliance lawyer in Hong Kong, stated that in the foreseeable future, Hong Kong's stablecoins are unlikely to compete head-on with USDT and USDC. The potential advantage of Hong Kong's local stablecoins lies in regulatory compliance scenarios, potentially limiting their use to licensed, Hong Kong dollar-denominated stablecoins. This will create a relatively independent market ecosystem from existing mainstream stablecoins. USDT/USDC may be restricted in scenarios involving cooperation with the Hong Kong Stock Exchange and securitization transactions, which require strict know-your-customer (KYC) and identity verification. Compliant stablecoins can enter these areas with regulatory approval. Traditional cryptocurrency users are still most familiar with USDT and USDC, and the development of Hong Kong's local stablecoins depends on whether they can find suitable application scenarios within regulatory sandboxes and pilot programs. (Source: MLion)
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