2-6-2025 – Stocks tied to digital currencies soared on June 2, propelled by the introduction of a transformative stablecoin law. This legislative milestone, dubbed the “Stablecoin Order,” has ignited a surge in market confidence, with shares of Lianlian Digital skyrocketing by 80% in a single trading session. Other firms, including Moxian and Chain Cloud Link, also reaped substantial gains, reflecting the market’s enthusiastic response to Hong Kong’s ambition to cement its status as a global hub for digital assets.
The new law aligns seamlessly with broader international trends, fostering the integration of digital currencies into mainstream finance while establishing a robust regulatory framework. Industry observers, both local and global, have hailed the move as a defining moment. An unnamed Hong Kong government official remarked that the “Stablecoin Order” positions the region to potentially surpass its global counterparts in the compliant issuance of stablecoins, marking a significant step towards realising its vision of becoming a leading crypto regulation hub.
This regulatory leap echoes historical precedents, such as Japan’s early embrace of blockchain frameworks, which spurred substantial market growth. The impact of Hong Kong’s initiative is already evident in the performance of stablecoins like Tether USDt (USDT), which holds steady at $1.00, according to CoinMarketCap. With a market capitalisation of $153.21 billion and a commanding 4.70% share of the crypto market, USDT recorded a 24-hour trading volume of $59.52 billion, reflecting a 12.51% change. These figures underscore the growing momentum behind stablecoins, as Hong Kong’s bold regulatory stride paves the way for further innovation and global market expansion in the digital asset realm.
