BiyaPay Analyst: On the first day of the official implementation of the "Hong Kong Stablecoin Proposal," stablecoin concept stocks experienced a widespread afternoon decline, with Brighten Securities Financial falling by over 20%.
BlockBeats News, August 1st, the Hong Kong "Stablecoin Regulation Draft" officially took effect, marking the formal establishment of a licensing regulatory mechanism for stablecoin issuers in Hong Kong. This move aims to provide a clearer legal framework for the virtual asset ecosystem, prevent systemic financial risks, and promote Hong Kong's development as a global virtual asset center.
According to BiyaPay analysts, influenced by the implementation of this policy, the stablecoin concept stocks in the Hong Kong stock market collectively declined in the afternoon. Among them, Bright Smart Securities & Commodities Group (01428) fell by over 20%, WeLab Holdings (00376) dropped nearly 16%, LianLian Digital Finance (02598) fell by over 9%, Goldstream Investment (01328), Sino Prosper (02562), and Guotai Junan International (01788) all fell by over 8%. The market is generally concerned that the licensing process may be slower than expected, posing short-term performance and compliance pressures on relevant enterprises.
At the same time, regulatory clarification has also laid the foundation for the integration of digital assets and traditional finance, which may become a long-term positive development. BiyaPay analysts pointed out that as policies continue to be implemented, the compliance and internationalization of the Hong Kong financial market will continue to improve.
Through BiyaPay, users can use USDT for real-time trading of Hong Kong and U.S. IPO stocks, without the need for an offshore account, to seamlessly participate in the global market, closely follow regulatory and market trends, and seize investment opportunities in every market fluctuation.
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