U.S. Redbook retail sales year-on-year for the week ending May 10

"BTC is not a threat to the US dollar, what is really threatening the US dollar is the behavior of the current Biden administration."

This article will start from 7 basic issues to explain the issuance logic, technical framework, regulatory rules and potential impact of the Hong Kong dollar stablecoin, and take USDC as an example to analyze the future operating mechanism of the Hong Kong dollar stablecoin.

On July 3, a number of experts and scholars concerned about Hong Kong’s Web3 published a joint signed article in Ta Kung Pao, strongly proposing that the Hong Kong SAR government issue a Hong Kong dollar stable currency backed by Hong Kong’s foreign exchange reserves to promote financial technology innovation and enhance the competitiveness of the financial market , so that Hong Kong can maintain its competitive advantage in the digital economy era. At the end of June, Okey Cloud Chain Research Institute also published a special article entitled "Seven Questions on Hong Kong Dollar Stablecoin: Issuance Logic, Regulatory Rules and Potential Impact" on Caihua News, the most well-known financial media in Greater China, and communicated with all walks of life. Share your observations and thoughts on Hong Kong dollar stablecoins.

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