Hong Kong Stablecoin Regulation Accelerates Implementation, HKMA Aims to Issue First Licenses in March
On February 4, per *The Beijing News*, Hong Kong’s stablecoin regulation has seen a new development. Eddie Yue, Chief Executive of the Hong Kong Monetary Authority (HKMA), noted 36 applications for stablecoin issuer licenses have been received. Assessment work is now ramped up, targeting the first batch of licenses in March—but only a small number will be issued as regulators take a cautious approach.
Yue stressed key assessment priorities include risk management capabilities—covering stablecoin use cases, reserve asset allocation, and cross-border compliance frameworks. Going forward, institutions with cross-border operations in Mainland China, Singapore, London, and ASEAN must also adhere to local regulatory rules.
Industry insiders say the first batch of licenses will likely boost Hong Kong’s compliant stablecoin ecosystem, driving innovations like tokenized assets and cross-border payments—further strengthening the city’s global standing in digital finance. That said, HKMA ex
3 minutes ago
The Buxo County in Sichuan, China, Issues a Notice on "Prohibiting Cryptocurrency Mining Activities"
February 4 – Butuo County in Liangshan Yi Autonomous Prefecture, Sichuan Province, China, has issued a notice banning all virtual currency “mining” activities.
The notice explicitly states that virtual currency mining is classified as outdated production processes and equipment explicitly eliminated by the Chinese government. Related business activities are deemed illegal financial activities, carrying risks including loan suspension, power cuts, internet disconnection, and credit penalties. Relevant personnel will face accountability for party discipline, government discipline, and legal responsibilities as required by law.
The notice further emphasizes that civil legal acts involving investments in virtual currencies and their derivatives are invalid, with any resulting losses borne by the individuals involved. To maintain social stability and regulate market order, Butuo County has outlined three key measures:
1. Ban all forms of virtual currency mining (including but not l
3 minutes ago
Tom Lee responds to "Ethereum's Reserve Burn Pressure Suppresses Price" Criticism: It's a Feature, Not a Bug
On February 4, BitMine Chairman Tom Lee addressed market concerns, pushing back against claims that the firm’s sizeable Ethereum (ETH) unrealized loss reserve will act as a “price ceiling” for future ETH prices. Lee noted that unrealized losses on the balance sheet during market downturns are an “inherent feature of Ethereum reserve strategy—not a design flaw.”
Previous commentary flagged that BitMine’s ETH holdings have posted an unrealized loss of roughly $6.6 billion, and argued the tokens would eventually be sold—pressuring ETH prices. Lee was even labeled the “liquidity exit” for early ETH holders. In response, Lee pushed back that such takes “misunderstand the operational logic of Ethereum reserve firms,” adding BitMine’s goal is to track and outperform ETH’s performance across a full market cycle, not engage in short-term trading.
Data shows ETH has dropped nearly 30% in the past month, while BitMine’s share price has fallen roughly 30% over the same period. The firm curre
3 minutes ago
Analysis: ETH Breaking Below $2000 Puts Pressure on Price, Technical Pattern and On-Chain Metrics Point to $1665–$1725 Range
February 4th — Ethereum (ETH) faces further downside risks this February, per Cointelegraph.
Technically, ETH has entered a classic inverse cup-and-handle breakdown phase. If the pattern completes, its target price sits around $1,665 — a roughly 25% drop from current levels.
From a price action standpoint, ETH broke below the pattern’s neckline (~$2,960) in January, then rebounded to test that level but failed and pulled back. It also hasn’t reclaimed its 20-day and 50-day EMAs, which now act as key overhead resistance levels. Multiple technical signals line up to reinforce expectations of a short-term downtrend continuation.
On-chain data also signals bearish sentiment. The MVRV (Market Value to Realized Value) extreme divergence range points to a downside target of ~$1,725 for ETH, with further downside not ruled out. Historically, ETH has tended to gradually bottom out and start a rebound after touching or falling below the MVRV lower bound.
Macro-wise, risk appetite for
3 minutes ago
App Store
Profile
Security
Sign Out
Feeds
Articles
Source
Add to Favorites
Download image
Share x
Copy link
