Wu Jiezhang: Hong Kong's stablecoin can learn from the EU's MiCA experience to strengthen cross-border coordination

ChainCatcher news, Hong Kong Legislative Council member Wu Jiezhuang tweeted that the passage of the "Stablecoin Regulation" marks further improvement in Hong Kong's cryptocurrency asset regulation. The regulation is based on international standards, establishing a high-threshold licensing system, emphasizing application scenarios and business sustainability. The Monetary Authority positions stablecoins as payment tools and communicates regulatory expectations with the market through a "sandbox mechanism." He pointed out that the key in the future lies in the effective integration of stablecoins with the traditional financial system and suggested that Hong Kong could learn from the EU's MiCA experience to enhance cross-border coordination.