Wu Blockchain (@WuBlockchain): Hong Kong's Stablecoin Ordinance Released:
Estimated coin impact
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Hong Kong's Stablecoin Ordinance Released: Stablecoin Ordinance requires HKMA licensing for all fiat-backed stablecoin issuers, enforcing 1:1 reserves, capital and redemption rules, full KYC, geographic limits, and banning anonymous wallets and DeFi links. It adds cross-border compliance and ongoing oversight. Strict KYC requirements have sparked controversy, and the ultra-conservative approach shuts out DeFi. Read more https://t.co/csRu0RWn11