TechFlow news, August 5 - According to Bloomberg, Hong Kong's Stablecoin Ordinance officially came into effect last Friday (August 1). It is reported that starting April 1 next year, the Hong Kong government will require taxis to offer passengers at least two alternative payment methods besides paper currency. As Hong Kong advances its stablecoin market reforms, it is expected that stablecoin applications may be explored in the taxi sector. Issuers should actively promote the upcoming Hong Kong dollar-pegged stablecoin within the taxi market to uphold Hong Kong's status as Asia's cryptocurrency hub. Notably, a similar pilot program in Abu Dhabi, Middle East, has already demonstrated its feasibility.
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