On August 1st, Hong Kong's "Stablecoin Regulation Bill" officially came into effect, marking the establishment of a licensing and regulatory mechanism for stablecoin issuers. 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 this policy implementation, Hong Kong stock market stablecoin concept stocks collectively declined in the afternoon. Among them, Bright Smart Securities Financial (01428) expanded its decline to over 20%, Cloud Ventures Financial (00376) dropped nearly 16%, Lianlian Digital (02598) fell over 9%, while Golden Stream Investment (01328), Lion Teng Holdings (02562), and Guotai Junan International (01788) all declined by more than 8%. The market generally worries that the license issuance process might be slower than expected, creating short-term performance and compliance pressure for related enterprises.
Meanwhile, regulatory clarity also lays the foundation for the integration of digital assets and traditional finance, which may become a long-term positive. BiyaPay analysts noted that with continuous policy implementation, Hong Kong's financial market's compliance and internationalization level will continue to improve.
Through BiyaPay, users can trade Hong Kong and US stocks in real-time using USDT, without needing to apply for an offshore account, enabling a one-stop participation in global markets, following regulatory and market rhythms, and seizing investment opportunities in every market fluctuation.
