Authors: Zhao Zhongxiu, Deng Jun, Zhang Shuyu
As major global economies successively advance legislation on stablecoins and cryptocurrencies, the Hong Kong Special Administrative Region has become a frontier for China's cryptocurrency policy experimentation and alignment with international rules.
On the afternoon of July 17, 2025, the United States passed stablecoin legislation—the "Directing and Establishing the National Innovation Act on Stablecoins in the United States" (hereinafter referred to as the "GENIUS Act").
On the afternoon of July 17, 2025, the United States passed stablecoin legislation—the "Directing and Establishing the National Innovation Act on Stablecoins in the United States" (hereinafter referred to as the "GENIUS Act").
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