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Hong Kong has launched the "Hong Kong stablecoin" in an attempt to seize the initiative in the Digital Money sector, provoking cheers from the encryption industry, concerns from banks, and attention from the United States.
1. Definition of stablecoin: A stablecoin is a "digital version of cash" that is relatively stable in price, unlike cryptocurrencies such as Bitcoin.
2. The Hong Kong government's regulation: The Hong Kong government will regulate stablecoins to prevent risks and compete for discourse power in the Digital Money sector.
3. Market Response: The encryption industry supports it, banks are concerned, and the US is paying attention, believing this is China's challenge to the US in the Digital Money field.