稳定币热度高涨，国际货币金融博弈迈入新赛道

Group 1 - The core focus of the news is the increasing attention and regulatory developments surrounding stablecoins, particularly in Hong Kong, which is set to implement the Stablecoin Regulation on August 1 [1][3] - The Hong Kong Monetary Authority (HKMA) will begin accepting license applications for stablecoin issuers, marking a significant shift from exploration to regulatory compliance in the stablecoin sector [3][4] - Major internet companies, including Ant Group and JD.com, are actively preparing to enter the stablecoin market, indicating a growing interest from established players in the financial technology space [5][6] Group 2 - Stablecoins are defined as cryptocurrencies that are pegged to real assets, providing a more stable value compared to volatile cryptocurrencies like Bitcoin [4] - The establishment of a stablecoin framework in Hong Kong is seen as a critical step in creating a regional settlement alternative, particularly for cross-border transactions in areas with limited local currency usage [4][6] - The global landscape for stablecoins is evolving, with various countries and regions, including the US, EU, and Japan, exploring the use of stablecoins as payment methods [4][10] Group 3 - There are significant risks associated with different types of stablecoins, particularly algorithmic stablecoins, which can be vulnerable to market fluctuations and may lead to systemic failures [9] - The lack of unified global regulatory standards for stablecoins poses challenges for the traditional financial system, necessitating the development of a comprehensive regulatory framework [9][10] - Future prospects for stablecoins, particularly those linked to the Chinese yuan, may face hurdles related to cross-border circulation and regulatory management [10]