The United States has passed the GENIUS Act, establishing a federal legal framework for stablecoins and clarifying the path for compliant operations.
Hong Kong will also implement the Stablecoin Regulations in August 2025, introducing a high-threshold issuer licensing system to regulate industry development.
The clarification of regulatory policies in both regions has delineated clear boundaries for the stablecoin industry. This not only reduces industry risks but is also crucial for promoting the tokenization of real-world assets (RWA). With clear rules in place, RWA is expected to accelerate its implementation, significantly enhancing the efficiency of cross-border payments, making the flow of funds across borders more convenient and efficient, and bringing new changes to global financial transactions.
