Hong Kong is building a bank-led digital money system, not a cryptocurrency free-for-all
That choice matters because Hong Kong is not trying to become Asia’s easiest venue for cryptocurrency experimentation. Rather, it is trying to become the most credible place to use stablecoins. In practice, that means digital money will be allowed to grow, but only inside a system dominated by banks, large compliance teams and institutions that regulators trust.
That’s not a technical detail. It is the point.
Source: News - South China Morning Post
