On June 23, 2025, stablecoins became the hottest track in the global financial technology field. As a bridge connecting traditional finance and the crypto world, regulatory policies for stablecoins are being accelerated in China, the United States, and Europe, driving the industry towards compliance.
Three major market regulatory progress:
1. Hong Kong passed the "Stablecoin Regulation Draft," requiring issuers to be licensed, with the first compliant Hong Kong dollar stablecoins expected this year.
2. The United States introduced the "GENIUS Act," establishing federal regulatory standards for payment-type stablecoins.
3. Europe implemented the "MiCA Act," creating a unified regulatory framework and encouraging financial institutions to participate.
Global giants accelerate deployment:
Chinese tech giants like JD.com, Ant Group, and Xiaomi are focusing on the Hong Kong market; Circle, PayPal, and JPMorgan are actively following up; multiple European banks are also preparing to issue stablecoins.
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