Wu Jie market maker: The stablecoin regulations will undoubtedly promote Hong Kong to become a global Web3 center.

According to BlockBeats news, on August 1, Hong Kong Legislative Council member Wu Jiezhuang posted on social media that the Hong Kong stablecoin regulation officially takes effect today. He is pleased to see that many global institutions are coming to Hong Kong to understand or express their willingness to apply for stablecoin licenses, which will surely promote Hong Kong's development as a global Web3 center. At the same time, it is necessary to remind industry practitioners and related institutions: after the bill takes effect, engaging in stablecoin-related business must strictly comply with regulations. Recently, many industry insiders have inquired whether offline "encryption asset exchange shops" can continue to exchange and sell so-called "stablecoins". It is recommended that everyone pay special attention to: carefully study the specific provisions of Articles 6 and 9 of the stablecoin regulations; and urge users interested in participating in encryption asset investment and trading in Hong Kong to choose compliant trading platforms in Hong Kong for operations.