One of the biggest differences between the Hong Kong stablecoin bill and that of the United States is: In Hong Kong, one cannot act without legal authorization. In the United States, one can act as long as it is not prohibited by law. The distinction is clear!
Herman Jin
Herman Jin31.7.2025
The Hong Kong stablecoin is simply a joke. The Genius Act has created a loose gray area for USD usage outside the strict USD regulatory framework, which will greatly increase the influence of the dollar system. With so many anti-money laundering requirements for issuers, it might be better not to have stablecoins at all. The usual incompetence of Hong Kong bureaucrats, trying to gauge Beijing while fearing to make mistakes.
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