logo

Hong Pizheng: Stablecoins are a long-term battle and should not be reduced to a short-term speculation tool

By: odaily.com|2025/07/20 18:31:44
0
Share
copy

Odaily News As the Stablecoin Ordinance is about to take effect on August 1, Hong Pizheng, Chairman of the Hong Kong Financial Development Council, said at the annual report release conference that stablecoins are part of the digitalization of Hong Kongs financial market and should play a stabilizing role rather than being manipulated by short-term speculation. He pointed out that dozens of companies are currently interested in applying for stablecoin business. Although it takes time to develop, Hong Kong is already in the global leading echelon. In addition, Hong Pizheng proposed that Hong Kong should be positioned as a treasury center facing the Global South, using the development of stablecoins to help diversify investment and supply chain risks.

You may also like

Make Probability an Asset: A Forward-Looking Perspective on Predictive Market Agents

The predictive market agents are expected to present early prototypes in early 2026, likely becoming an emerging product form in the field of agents in the following year.

Consumer application issues

The truly outstanding applications will not ask people to "use cryptocurrency," but will provide practical and better solutions to the problems that people already face.

Arthur Hayes: The flames of war in the Middle East rise, Bitcoin is bullish

War is often accompanied by monetary easing, which may also become an important backdrop for driving up risk assets like Bitcoin.

Legendary investor Naval: In the AI era, traditional software engineers have no value?

You can always find a perfect niche that fits you and become a leader in that field.

More absurd than knowing about the war in advance is knowing in advance about the assassination of Soleimani

The temptation of a million dollars cannot be stopped by the calamity of prison.

Key Market Insights on March 2nd, how much did you miss?

1. On-chain Funds: $96.8M Inflow to Base This Week; $234.9M Outflow from Arbitrum 2. Largest Price Swings: $SYND, $TCY 3. Top News: Anthropic Tops Global AI Product Ranking after Pentagon Rejection, Celebrities Boycott Its Competitor OpenAI

Popular coins

Latest Crypto News

06:43

The probability of the Federal Reserve keeping interest rates unchanged in March is 97.5%

According to Jinshi reports, CME's "Fed Watch" shows that the probability of the Federal Reserve cutting rates by 25 basis points by March is 2.5%, while the probability of keeping rates unchanged is 97.5%. By April, the cumulative probability of a 25 basis point cut is 16.3%, the probability of kee...
06:43

The US dollar index rose sharply by 0.79% to close at 98.382

According to Jinshi News, the dollar index, which measures the dollar against six major currencies, rose sharply by 0.79% on March 2, closing at 98.382 in the foreign exchange market. 1 euro exchanged for 1.1707 dollars, down from 1.1819 dollars the previous trading day; 1 pound exchanged for 1.3422...
05:43

Data: In the past 24 hours, the total liquidation across the network was 438 million USD, with long positions liquidated at 184 million USD and short positions liquidated at 254 million USD

According to Coinglass data, the total liquidation in the past 24 hours reached $438 million, with long positions liquidated at $184 million and short positions liquidated at $254 million. Among them, Bitcoin long positions were liquidated at $65.8069 million, Bitcoin short positions at $121 million...
05:43

The Dow Jones Index closed down 73.14 points, while the S&P 500 rose slightly

According to Jinshi reports, the Dow Jones Index closed down 73.14 points on March 2 (Monday), a decrease of 0.15%, at 48,904.78 points; the S&P 500 Index closed up 2.74 points, an increase of 0.04%, at 6,881.62 points; the Nasdaq Composite Index closed up 80.65 points, an increase of 0.36%, at 22,7...
05:43

U.S. stocks closed with mixed results among the three major indices, and Circle's stock price rose by 15%

According to Jinshi reports, U.S. stocks closed on Monday with the Dow Jones Industrial Average initially down 0.15%, the S&P 500 index slightly up, and the Nasdaq up 0.36%. Circle (CRCL.N) saw its stock price rise by 15%, while Berkshire Hathaway (BRK.A.N, BRK.B.N) fell by 4%. The Nasdaq China Gold...
Read more
Community
iconiconiconiconiconiconicon

Customer Support Bot：@WEEX_support_smart_Bot

VIP Services：support@weex.com