CoinInsight360.com logo CoinInsight360.com logo
America's Social Casino

Coinpaper 2025-07-08 16:10:52

Hong Kong Crypto Stocks Surge on Positive Regulatory News

Shares of cryptocurrency companies in Hong Kong posted gains amid investor optimism. Market participants are expecting the launch of a licensing system for issuers of stablecoins. Shares of brokerage firm Guotai Junan International rose 28%, according to Yahoo Finance. Shares of licensed crypto exchange OSL appreciated by 8%, while Dmall Inc. and Victory Securities rose 10% and 33%, respectively. The rise in quotations is attributed to the companies' recent successes. Guotai Junan and Victory Securities have received regulatory approval to trade crypto assets. OSL is one of the platforms with a retail license. Dmall is preparing to apply to issue stablecoins, and is already buying Bitcoin through the HashKey exchange. Investor interest is fueled by the impending implementation of rules for stablecoins on August 1. The new regime will oblige issuers to obtain a license from the Hong Kong Monetary Authority. According to Financial Services Minister Christopher Hui, the authorities may issue only a few such permits this year. The excitement around stablecoins also stems from statements made by the governor of the People's Bank of China. In June, Pan Gongsheng recognized that they are changing the global payment infrastructure. Against this backdrop, the region is actively discussing the issuance of stablecoins pegged to the offshore yuan. B2B Focus IDA co-founder Sean Lee called the regulation in Hong Kong ”very progressive.” He said it leaves more openness to international markets by allowing the issuance of multi-currency stablecoins. However, Lee noted the high threshold to enter the market. In his view, Hong Kong is focused on B2B applications rather than retail users. This is partly due to low public awareness of stablecoins and an already developed domestic digital payment system.

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.