sunnypath
@sunnypath
Hong Kong's finance chief said stablecoins, backed by fiat currency, can be used for payments via blockchain. Issuers will be regulated by HKMA, following rules similar to traditional finance, like managing reserves and client assets. Redemptions must be completed within one business day. Stablecoins are useful in "Belt and Road" regions with volatile currencies or weak financial systems. They offer a safer payment option there.
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