Financial Regulation International
Too cautious or just right? Hong Kong's stablecoin regulations through the lens of the European Union
Laurence Lai
Over the last decade, financial technology has done more than just digitise existing financial services; it has started to
fundamentally change our ideas about what money is and who provides it.
1 We have seen the most dramatic changes in how we settle payments.
2 The Covid-19 pandemic acted as a significant catalyst, pushing both people and businesses towards contactless, online, and
direct account payments at a pace no one expected.
3 Data from around the world shows a notable acceleration in digital payments, with millions of people using them for the first
time, particularly in emerging markets.
4