Akshay Kumar downplays romancing Wamiqa Gabbi, 32, in Bhooth Bangla, Priyadarshan says 'actor's screen age is different'Apart from Akshay Kumar, Bhoot Bangla director Priyadarshan also addressed the age-gap, emphasising that he sees no issue with it. Mar 25, 2026
CoinDCX promoters Sumit Gupta and Neeraj Khandelwal, arrested in a ₹71.6 lakh fraud case, were granted bail by a Thane court. The duo was accused of cheating an insurance advisor with false cryptocurrency investment and franchise promises. Their defense argued mistaken identity
Jewar Airport latest update: IndiGo, Akasa Air and Air India Express confirm flight operations, expected routes, and launch timeline for Noida International Airport. The upcoming Noida International Airport in Jewar is set to emerge as a major aviation hub for North India
Energy-related infrastructure in Iran’s Isfahan province and the southwestern city of Khorramshahr has been struck, according to Iran’s semiofficial Fars news agency. The reported attacks come a day after US President Donald Trump announced a pause by extending his deadline for Iran to halt
The Indian Premier League (IPL) 2026 season is set to get underway on March 28 with defending champions Royal Challengers Begaluru facing Sunrisers Hyderabad at the M Chinnaswamy Stadium in Bengaluru. With a fresh stack of players across all 10 franchise following the mini-auction process from last
The story so far: Hong Kong is taking a decisive step forward in regulating certain types of cryptocurrencies, as it prepares to enforce the Stablecoins Ordinance from August 1. The new regulations come amidst an explosion of interest in stablecoins and their promising applications in both personal finance and international business. While crypto users who support official regulation are excited, the authorities have advised caution.
Why is Hong Kong regulating and licensing stablecoins? | Explained Premium
The story so far: Hong Kong is taking a decisive step forward in regulating certain types of cryptocurrencies, as it prepares to enforce the Stablecoins Ordinance from August 1. The new regulations come amidst an explosion of interest in stablecoins and their promising applications in both personal finance and international business. While crypto users who support official regulation are excited, the authorities have advised caution.
The Hong Kong Monetary Authority announced that the Stablecoins Ordinance will come into effect on 1 August this year. This means it will be illegal for people to “offer any unlicensed fiat-referenced stablecoin (FRS) to a retail investor, or actively market the issue of unlicensed FRS to the public of Hong Kong,” according to Eddie Yue, Chief Executive of the HKMA.
Furthermore, companies that want to legally issue stablecoins to users in Hong Kong will have to obtain a licence from the Monetary Authority as well as meet set requirements when it comes to managing reserve assets and redemption, asset stabilisation, and processing user requests. In addition to this, they will have to comply with the applicable regulations that prevent money laundering and terrorist financing, thus making sure that their assets are properly disclosed and audited.
The HKMA warned that the regulations are not a red carpet for interested parties to begin issuing stablecoins, and that in the beginning it would “at most grant a handful of stablecoin issuer licences. In other words, a large number of applicants will be disappointed,” per Mr. Yue in an official statement.
Stablecoins are a class of cryptocurrencies, with their values linked to assets. Unlike better known cryptocurrency coins such as Bitcoin (BTC) and Ether (ETH) or even tokens such as Shiba Inu (SHIB), whose values can wildly rise and fall due to investor sentiments and other factors, stablecoins are designed to maintain relatively steady prices. Hence, their name.
This so-called stability is achieved through the process of “pegging” the stablecoin to an asset such as fiat currency (like U.S. Dollars, EU Euros, Hong Kong Dollars, etc.), a commodity (like gold), other cryptocurrencies (such as Bitcoin), by regulating their value via computer algorithms, or by mixing multiple strategies. While the price of Bitcoin might rise or fall in the coming years, a USD-pegged stablecoin should ideally remain around $1.
Stablecoins are different from CBDCs, or Central Bank Digital Currencies, which are digital currencies officially issued and controlled by a government's central bank. Meanwhile, stablecoins can be privately issued and can also be pegged to foreign currencies.
Stablecoins play an important role both within and outside the crypto ecosystem, even if they might not balloon in price like Bitcoin. Crypto investors often use stablecoins to facilitate easy trading on crypto exchanges. Others around the world have used stablecoins to maintain the value of their savings when their native currencies are depreciating, or to save money on cross-border transactions. Argentina, Turkey, and even Taliban-occupied Afghanistan are some places where stablecoins are not just for trading, but a way to make daily life possible.
The numbers tell a compelling story as well. Tether (USDT), the fourth largest cryptocurrency by market capitalisation and the largest stablecoin, per CoinMarketCap, has a circulating supply of 163.75 billion USDT. Meanwhile, more than $250 billion worth of stablecoins are estimated to be in circulation worldwide.
Naturally, more governments are concerned about whether the highly engineered use of stablecoins could one day affect the value of the original fiat currencies or commodities backing them up. Furthermore, what is the guarantee that every stablecoin pegged to the dollar, euro, pound, or peso is actually backed up by its issuer? Currently, it is largely up to stablecoin users to audit their issuers' reserves and make sure that their stablecoins are adequately backed. When a stablecoin issuer suddenly adds millions of dollars in assets, it naturally raises questions about where the money to back this is coming from, or whether it really exists. This is where regulation comes in.
Despite their name and their backing, stablecoins can also exhibit volatility. In response to both technical factors and world events, stablecoins sometimes come unpegged and their prices may rise or fall beyond the usual range, with sudden drops triggering panic amongst investors. For example, USDT, which is pegged to the U.S. Dollar, has in the past fallen to prices as low as around $0.92.
Stablecoins have also collapsed entirely. In May 2022, Terra's cryptocurrency LUNA and its linked algorithmic stablecoin UST both lost most of their value in a matter of hours. Panicking investors who no longer trusted these assets quickly sold them off to minimise losses, and the prices fell close to zero. Billions of dollars were wiped from the crypto sector and the ensuing liquidity crunch triggered asset freezes across global crypto exchanges and fintech platforms.
U.S. President Donald Trump in July signed the GENIUS Act that is designed to regulate stablecoins and protect the U.S. dollar, much to the joy of his pro-crypto supporters.
Per the White House, the GENIUS Act requires 100% reserve backing with liquid assets like U.S. dollars or short-term Treasuries for stablecoins. Those issuing this asset will also have to make monthly, public disclosures of the composition of their reserves, apart from complying with marketing rules.
Other countries that have started to regulate stablecoins include Japan and Singapore, per AFP, while multiple other jurisdictions have more generic regulations that cover stablecoins along with other cryptocurrencies.
Though the Chinese government heavily restricts crypto-related activities in its jurisdiction, some of the country's tech giants hope that Hong Kong's upcoming regulatory regime will provide an outlet for their own stablecoin ventures.
Published - August 02, 2025 07:59 am IST
technology (general) / internet / The Hindu Explains / cryptocurrency / Hong Kong / litigation and regulation
Source: The Hindu
Related Posts: Tata Sons Appoints Former Aviation Secretary As Air India Faces Regulatory Hurdles Centre introduces Securities Markets Code Bill to replace three regulation laws Budget 2026-27 decisive step towards Viksit Bharat Trump, Modi take a step forward balancing tariff row A Major Step Forward OnePlus 13s is a decisive take on an idea of a powerful Modi's alliance heads for decisive win in Bihar election Modi's alliance celebrates decisive win in Indian state election Hidma’s end marks a decisive moment in fight against Maoist insurgency India Eliminated From Hong Kong Sixes Following Back-To-Back Losses
A Delhi court on Tuesday sentenced Kashmiri separatist leader Asiya Andrabi to life imprisonment, PTI reported. Andrabi, alleged to be the founder and chief of the banned all-women separatist group Dukhtaraan-e-Millat, and two of her associates had been convicted under the Unlawful Activities
59 minutes ago
Dhurandhar 2: The Revenge has sparked fresh buzz after viewers realised that the character Pinda is inspired by real-life drug dealer and militant Rinda. This detail is now being widely discussed as fans connect the film’s story with real events
59 minutes ago
IndiGo warns of demand hit as Iran war drives up flight ticket pricesIndiGo's warnings come even as an escalating Iran war continues to rattle global crude oil markets and complicates flight paths. Published on: Mar 24, 2026 5:13 PM IST By HT Business Desk Share via Copy link IndiGo has warned that
59 minutes ago
Losing stubborn belly fat isn’t just about cutting calories, but it’s about choosing the right kind of movement. The fat stored around your abdomen, especially visceral fat, is closely linked to metabolism and overall health. The good news is that you don’t need hours in the gym
59 minutes ago
And so the long goodbye begins for the 'Egyptian King' - undoubtedly, one of the greatest footballers the Premier League has ever seen. Mohamed Salah has worn the Liverpool shirt 435 times across all competitions. At most, he will get the opportunity up to 15 more times between now and the end of
59 minutes ago
At his factory in Visakhapatnam, Sanjeev Relhan produces surgical gowns and protective gear that doctors and nurses routinely use in hospitals while handling an infectious patient or for a surgery. Usually, Relhan sells gowns to hospitals for Rs 80 a piece. In the last few days
59 minutes ago
Kerala Police asks X to remove posts related to ECI document with BJP sealKerala Police on Tuesday issued notices to social media users and asked platform X to remove posts related to an Election Commission of India (ECI) document that carried the seal of the BJP Published on: Mar 25
59 minutes ago
JICA is eager to partner with India on semiconductor and new energy initiatives. The agency plans to invest JPY 275 billion this year, a significant increase from last year's JPY 191 billion. JICA's chief representative, Takeuchi Takuro, highlighted semiconductor manufacturing and biogas as key
59 minutes ago
One minute, he’s catching heat for a quiet cameo in the Madrid derby. And the next, he’s at the centre of a bizarre controversy that’s got France and Spain pointing fingers — and Real Madrid sweating. Mbappe’s substitute appearance against Atletico Madrid didn’t exactly wow anyone
59 minutes ago
Premier League’s edge blunted as La Liga continues to dictate tempo and control in Champions League Updated on: Mar 25, 2026 6:08 AM IST By Aditya Maheshwari Share via Copy link Premier League may be the most competitive, but La Liga’s technical edge outclasses it in the UEFA Champions League
59 minutes ago
Once operational, will Jewar International Airport in Noida, likely to be inaugurated on March 28, be India’s largest airport? There is understandable confusion around this claim. But the short answer is — not yet. But it could be India’s largest airport in the future
59 minutes ago
If you cancel between 24 hours and 8 hours before the journey, 50% of your ticket fare will be cut, along with the minimum applicable charge. The Indian Railways has made some major changes to its ticket cancellation fee. From now on, if you cancel your ticket between 24 to 72 hours before the
59 minutes ago
Globally, tuberculosis remains the leading cause of death and according to the World Health Organization, over 10.7 million people fell ill with TB in 2024, with more than 1.25 million deaths recorded globally. Despite decades of medical advances
59 minutes ago
A tarot reader predicts financial growth for these 5 zodiac signs before March 2026 ends. Here’s whyMarch 2026 Horoscope: According to a tarot reader, Manisha Koushik, a few zodiac signs may experience financial progress before the month ends. Published on: Mar 25
59 minutes ago
From April 1, 2026, filing your income tax return (ITR) is set to undergo a significant transformation. With the new Income-tax Rules, 2026 coming into effect, the government is not just tweaking forms—it is reshaping how income, tax and deductions are reported across the system.From April 1
59 minutes ago
The Ministry of Civil Aviation has decided to withdraw the temporary fare caps on domestic airfares starting today (March 23). New Delhi: The Ministry of Civil Aviation has decided to withdraw the temporary fare caps on domestic airfares starting today (March 23)
59 minutes ago
22-year-old UK woman lands job in Bengaluru, asks if relocating to India is safeThe woman shared that she is also worried about feeling lonely in a new country if she decides to move from the UK to India. Published on: Mar 25, 2026 6:10 AM IST By Trisha Sengupta Share via Copy link A 22-year-old
59 minutes ago
The Lok Sabha on Tuesday passed by voice vote the 2026 Transgender Persons Protection of Rights Amendment Bill. The bill will now be moved to the Rajya Sabha. If cleared by the Upper House of Parliament, it will be sent for presidential assent. Introduced in the Lok Sabha on March 13
59 minutes ago
Opposition parties are carefully responding to a government proposal to speed up the Women's Reservation Act. They are not opposing it directly but are requesting an all-party meeting. This meeting is proposed to take place after the upcoming assembly elections conclude
59 minutes ago
Apex court issued broad directions to correct past injustices and to guarantee equal opportunities in the future. In a landmark judgment stregthening gender equality in the armed forces, the Supreme Court on Tuesday ruled that women Short Service Commission (SSC) officers are entitled to Permanent
59 minutes ago
HDFC Bank has appointed domestic law firms Wadia Ghandy and Trilegal, along with a leading US-based firm, to review the circumstances surrounding former chairman Atanu Chakraborty’s abrupt resignation, according to a report by The Economic Times (ET), citing people familiar with the matter
59 minutes ago
Singer-rapper Badshah has reportedly tied the knot with Punjabi actress and model Isha Rikhi. Recently, Isha’s mother, Poonam, took to her Instagram handle and shared a series of pictures which suggest that the two are now married. In the photos
59 minutes ago
Malaika Arora, in a recent interview, mentioned that she is a massive fan of two Thai dishes. She spoke about her love for green Thai curry rice and mango sticky rice and went on to share how she makes these dishes at home. Green Thai curry or Gaeng Khiao Wan is a fragrant coconut milk-based dish
59 minutes ago
Delays in visa appointment scheduling are affecting not only H-1B visa holders but also H-4 dependents, L-1/L-2 employees, and F-1 students. After arriving in India in December, holders with H-1B visas are now ‘stranded in their home country’
59 minutes ago
Thousands of Malayalees return home from the UAE, Saudi Arabia, Kuwait and other Gulf states during election seasons to exercise their franchise. Expatriate groups even arrange chartered flights for their members to travel. This year this crowd would have been bigger
59 minutes ago
Nandini, the dairy brand of Karnataka Milk Federation, will be the Official Dairy Partner for Royal Challengers Bengaluru in the 2026 IPL season. This partnership unites two prominent Karnataka-based brands. The collaboration aims to connect with passionate RCB fans
59 minutes ago
On March 19, Ras Laffan, the largest liquified natural gas terminal in the world, supplying one-fifth of the world’s super-chilled fuel, was hit by Iranian missiles and drones. The Qatari terminal suffered substantial damage in the strikes – fires were raging across the gas-to-liquids facility
59 minutes ago
