📢 Gate Square Exclusive: #WXTM Creative Contest# Is Now Live!
Celebrate CandyDrop Round 59 featuring MinoTari (WXTM) — compete for a 70,000 WXTM prize pool!
🎯 About MinoTari (WXTM)
Tari is a Rust-based blockchain protocol centered around digital assets.
It empowers creators to build new types of digital experiences and narratives.
With Tari, digitally scarce assets—like collectibles or in-game items—unlock new business opportunities for creators.
🎨 Event Period:
Aug 7, 2025, 09:00 – Aug 12, 2025, 16:00 (UTC)
📌 How to Participate:
Post original content on Gate Square related to WXTM or its
Hong Kong stablecoin regulation
Key Points:* Hong Kong enacts stablecoin law, targeting fiat-backed stability.
Hong Kong Mandates Full Reserve for Stablecoins
Chiu Tat-kan, a Legislative Council member, underscores the move as a step to ensure financial stability and transparency without engaging in market competition. Further, major stablecoin issuers are expected to comply before seeking approvals for operations in Hong Kong, but as of now, no issuer is publicly licensed under the new regime.
Community responses to the ordinance mainly highlight its alignment with international standards. Legislator Chiu Tat-kan reiterated the focus on seamless international transactions. The local market has demonstrated cautious optimism, awaiting potential issuer announcements. The Hong Kong Monetary Authority has insisted on strict compliance and periodic consultation for ongoing administration and regulatory updates.
Global Stablecoin Framework Influences and Market Trends
Did you know? Hong Kong’s regulation is inspired by the EU’s MiCA, which saw a growth in EUR-backed stablecoins following its enactment, signaling potential impacts on global stablecoin adoption.
As of August 4, 2025, CoinMarketCap reported Tether (USDT) holds a price of $1.00 with a market cap of $163.92 billion. The 24-hour trading volume reached $68.83 billion, experiencing a dip of -26.53%. In the past 90 days, USDT saw a price increase of 3.67%.
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