Hong Kong stablecoin concept stocks continued to widen their losses in the afternoon, with BRIGHT SMART ( 01428 ) dropping over 17%, YUNFENG FIN ( 00376 ) falling 14%; GOLDSTREAM INV ( 01328 ) down 11%; LIANLIAN ( 02598 ) declining over 8% and Guotai Junan down 7%.

News: Hong Kong's "Stablecoin Ordinance Bill" has officially come into effect. This establishes a licensing system for fiat-backed stablecoin issuers in Hong Kong, improving the regulatory framework for virtual asset activities in Hong Kong to maintain financial stability while promoting financial innovation.