News Analysis
The push by Hong Kong’s Legislative Council to authorize a diverse range of fiat-referenced stablecoins is raising concerns about the stability of its long-standing Linked Exchange Rate System (LERS) pegged to the U.S. dollar.
Hong Kong’s Stablecoin Drive May Pave Way for Digital Yuan, Undermining US Dollar
The Chinese communist regime intends to integrate a stablecoin pegged to the yuan into Hong Kong’s international capital markets.
A currency sign is seen in Hong Kong on Aug. 11, 2015. Philippe Lopez/AFP via Getty Images
