2026-01-10 10:29:55

Last August, the Hong Kong-Macau collaboration landed an on-chain RWA project for state-owned enterprise bonds in Shenzhen, with Ant Group also participating. However, it later went silent. It’s quite a pity—this was a good opportunity to explore the compliance of digital assets.

Compared to Singapore and Hong Kong, both regions have their own strengths in the virtual asset field. Singapore is very active in industry initiatives, while Hong Kong, though deeply rooted, has remained somewhat conservative. The key question is whether Hong Kong can break through existing constraints; even with stricter regulation, it must first establish a solid business framework and gradually move toward legalization.

Good news is that the attitude of Hong Kong’s financial authorities is softening. The officials have stated that virtual currencies are indeed an important part of financial innovation, and Hong Kong should actively embrace them. But on the other hand, blockchain also introduces new risks—insufficient investor protection, anti-money laundering regulations, and other hurdles that cannot be ignored. This requires the government to find a balance between caution and openness, establishing a suitable regulatory framework.

Regarding stablecoins, especially those linked to gold or other physical assets, the authorities have not outright rejected them; they only said that a gradual assessment and cautious advancement are necessary. What do you think? The future of virtual assets in Hong Kong still holds promise, it all depends on how this next step is taken.

RWA0,24%

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Degentleman

· 01-13 06:11

That Ant project just collapsed like that, really a huge loss... Hong Kong is still too cautious. Why is Singapore moving so quickly, while Hong Kong keeps getting stuck? The idea of backing stablecoins with gold is pretty good; now it's just a matter of when the officials will truly dare to let go.

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BlockchainArchaeologist

· 01-12 19:57

It's that RWA project from Hong Kong and Macau again, and it really just ended in a dead end... Speaking of which, Singapore is indeed more flexible, while Hong Kong is still hesitating. Singapore's framework is well-constructed, but Hong Kong is overthinking and doing too little. The direction of pegging stablecoins to gold is not bad; it all depends on whether it can truly be implemented. It seems Hong Kong still lacks the courage; the opportunity is right here.

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CryptoFortuneTeller

· 01-10 11:00

It's the same old story... Hong Kong and Macau coordination then nothing, I'm really speechless. --- Singapore took off a long time ago, while Hong Kong is still exploring, the gap is getting bigger and bigger. --- Pegging stablecoins to gold? Sounds good, but the actual implementation is another matter. --- The key is that someone has to dare to take the first step. No matter how good the regulatory framework is, there must be projects to support it. --- Ant participated back then and now has disappeared again. There must be a story behind it. --- Instead of cautious promotion, why not just open up and try? Was Singapore's success achieved through caution? --- Risks like investor protection and anti-money laundering are real, but they shouldn't block the entire industry. --- Hong Kong's attitude has softened, but what about execution? That's the real key. --- Let's wait, probably another long wait.

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MissedAirdropAgain

· 01-10 10:59

Oh, it's the same old story. Nice words, but where are the actions? --- Singapore has already taken off, while Hong Kong is still standing still. --- This RWA project is really a pity. The opportunity was right there. --- Hong Kong would have already taken action if they dared to loosen regulations. Now they’re just "gradually assessing." --- Stablecoins pegged to gold? Just listen, don’t take it seriously. --- The Hong Kong-Macau linkage sounds good, but unfortunately, it ended in failure. --- Regulatory frameworks, frameworks, frameworks—these are the same few words over and over. --- Investor protection, anti-money laundering—these reasons are so overused. --- Whether Hong Kong can take this step properly is really uncertain. --- Ants have even jumped out, and this is the result? Who would have thought? --- Softening, softening—who doesn’t know how to do verbal softening?

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GweiWatcher

· 01-10 10:58

That RWA project in Hong Kong and Macau is really a pity; it feels like it was just a little short of breaking out. If Hong Kong keeps dragging its feet like this, Singapore will be out of the picture. The idea of pegging stablecoins to gold is not bad, but can the regulators really loosen up their grip? Ant Group hasn't made any noise this time either. Did they get stuck again? It seems like Hong Kong wants to move forward but is afraid to do so. When will it truly get underway?

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ZeroRushCaptain

· 01-10 10:58

The Hong Kong and Macau RWA project died last year. Are you still dreaming that Hong Kong can turn things around? As an old veteran, I advise you that regulatory "softening" is just a trick; in the end, it will still be cut off abruptly. Singapore is already charging ahead, while Hong Kong is still hesitating? Reverse indicators tell us that the more the authorities talk about embracing innovation, the further they are from truly opening up. Stabilcoins pegged to gold? Just forget about it; it will just be another scheme with withdrawal limits. No matter how this step is taken, it’s a trap. I bet 5 dollars that it will ultimately end in zero.

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MetaverseLandlord

· 01-10 10:55

Hong Kong's move is a bit slow. Singapore has already taken the lead, and they're still dragging their feet. The RWA project at the beginning of the year was a failure; even Ant couldn't hold the scene. What does that say? Staking stablecoins with gold sounds good, but it still needs to be evaluated. Opening up while setting frameworks—can this pace really keep up?

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fren.eth

· 01-10 10:34

What happened to that Ant project... Did it really just go silent? It feels like Hong Kong and Macau are always just a little short of taking off. Singapore is pushing aggressively over there, while Hong Kong is still hesitating... When will they truly let go? The idea of backing stablecoins with gold isn't bad, but I'm just worried it might be all talk and no action.

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