Hong Kong Stock Market Blockchain Concept Stocks Soar Together, Brokerage Firm Points Out Stablecoins Entering a New Phase of Accelerated Regulation

On June 2nd, as reported by Securities Times, in the Hong Kong stock market, stocks related to digital currency witnessed a collective surge today. Lianlian Digital once surged by 80% during the trading day. Moxian rose by nearly 50% at one point, and Chain Cloud Link rose by over 45% at one time. By the close, Lianlian Digital still had a gain of over 60%, Chain Cloud Link rose by over 40%, Moxian rose by nearly 40%, and Zhongan Online rose by nearly 10%. From a policy perspective, recently, there have been continuous positive news in the digital currency industry. Especially with the rise of stablecoins, it has become a new focus in the global financial market. The Hong Kong Special Administrative Region government published the "Stablecoin Order" in the Gazette on May 30th, indicating that the "Stablecoin Order" has officially become law. At the current pace, compliant Hong Kong stablecoins are expected to be officially launched by the end of this year. In addition, the United States is also accelerating the promotion of stablecoin regulation bills. Some securities firms pointed out that stablecoins are entering a new stage of accelerated regulation and will also be regarded as an important financial innovation tool. It is expected that they will continue to receive policy support in the future, and the industry's development space will further expand.