#数字资产市场观察 Recently, there has been a new regulation on stablecoins in Hong Kong. After reading the announcement, I still feel a bit confused.

What does this wave of actions really mean? Are the projects in the market about to迎来春天 or will they be卡脖子? Will it directly create a pit in the market?

There is nothing wrong with regulation itself; the key is how the details are written and how strict or lenient the execution is. The most feared is the lazy governance approach of a one-size-fits-all solution—if it really turns out that way, the entire sector will probably experience a major upheaval.

Is there anyone from the industry who can explain? How significant is this movement?

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RealYieldWizard

· 11-30 17:57

This move in Hong Kong feels like the regulatory authorities are testing the waters again. Without the detailed rules, it's all just talk; I'm really worried it might be another case of selective enforcement. But to be fair, stablecoins should have some oversight; it just depends on what tricks HK is going to pull this time.

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MevWhisperer

· 11-30 17:56

The detailed rules haven't come out yet, so guessing is pointless now. --- It feels like Hong Kong wants to set a benchmark for compliance in Asia? But we'll have to see how well they execute it. --- A one-size-fits-all approach is just not going to work; how can small projects survive? --- Regulation itself isn't scary, what's scary is procrastination, it's worse than being bad. --- The fluctuations in the market are unavoidable; the key is to see who can survive until the end. --- The term "lazy governance and a one-size-fits-all approach" really hits the nail on the head; I really hate this kind of thing. --- Hong Kong has always wanted to be a benchmark for compliance, and this time it seems like another pilot.

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GateUser-9f682d4c

· 11-30 17:44

If Hong Kong really implements a one-size-fits-all approach, the ones who will suffer are still the small projects. Let's wait for the details; anything said now is pointless. It's the same old story; what regulators fear most is when those executing decisions just make arbitrary choices. The stablecoin projects that can survive have long been anchored, so why panic? It feels like big exchanges are all waiting, while those wild projects are starting to shake. A one-size-fits-all approach is truly devastating; compliance costs could lead to bankruptcy. Joking aside, the key still lies in the Hong Kong government's attitude—whether it is open or restrictive.

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GateUser-40edb63b

· 11-30 17:41

This wave in Hong Kong really needs to look closely at the details; just looking at the title is not enough to make any judgments. Details determine life and death; a one-size-fits-all approach will just end it. Let's wait and see how it will be executed; there are too many uncertainties.

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