News Analysis The push by Hong Kong’s Legislative Council to authorize a diverse range of fiat-referenced stablecoins is raising concerns about the stability of its long-standing Linked Exchange Rate System (LERS) pegged to the U.S. dollar. Fiat-referenced Hong Kong’s Stablecoin Drive May Pave Way for Digital Yuan, Undermining US Dollar
News Analysis The push by Hong Kong’s Legislative Council to authorize a diverse range of fiat-referenced stablecoins is raising concerns about the stability of its long-standing Linked Exchange Rate System (LERS) pegged to the U.S. dollar. Fiat-referenced
Hong Kong officials submitted a proposal to the Legislative Council on July 3 to amend local prison rules, which would empower the Correctional Services Department (CSD) to impose—based also on “specific purposes” such as “maintaining national