With early stablecoin law, Hong Kong looks to keep edge as finance hub Xinmei Shen Business – South China Morning Post

With the passage of one of the world’s most comprehensive stablecoin laws two weeks ago, Hong Kong is looking to stay at the forefront of global finance while addressing lessons from past industry setbacks, according to analysts.
Being a “first mover” in stablecoin legislation “reflects the determination” of the city’s government to “unlock value that they see in this sector, given the number of hurdles from past incidents”, said Melvin Deng, CEO of digital asset trading firm QCP Capital.
Hong…With the passage of one of the world’s most comprehensive stablecoin laws two weeks ago, Hong Kong is looking to stay at the forefront of global finance while addressing lessons from past industry setbacks, according to analysts.
Being a “first mover” in stablecoin legislation “reflects the determination” of the city’s government to “unlock value that they see in this sector, given the number of hurdles from past incidents”, said Melvin Deng, CEO of digital asset trading firm QCP Capital.
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​Business – South China Morning Post