BlockBeats News, May 30th. According to Caijing News, from May 29th to May 30th, more than ten securities firms including CITIC Securities, Guotai Junan Securities, CMB International, Guojin Securities, Dongwu Securities, Everbright Securities, Western Securities, Guosheng Securities, and others held 13 roadshow conferences with "Stablecoin" as the key theme. In the next few days, CICC, GF Securities, and other securities firms will also hold stablecoin-related conference calls. Industry insiders believe that recently, the rapid rise of stablecoins in the market is closely related to several catalysts:

1. Recently, the Hong Kong Legislative Council passed the "Stablecoin Bill" (hereinafter referred to as the "Bill"), marking Hong Kong as the world's first jurisdiction to establish a comprehensive regulatory framework for fiat-backed stablecoins.

2. The issuer of the world's second-largest stablecoin USDC, Circle Internet Group, recently disclosed IPO terms, with the company planning to list on the NYSE and raise up to $624 million.

3. Recently, the U.S. "GENIUS Act" ("Guiding and Encouraging New State-Sponsored Stablecoins Act") has made significant progress in the Senate. Once the bill is passed, it may drive institutional investment in stablecoins.

Among these, the passage of the "Bill" has gained the most market attention. The Hong Kong SAR Government Office in Shanghai recently stated in an article on its official WeChat account that the "Bill" is expected to take effect later this year. In the future, anyone issuing fiat-backed stablecoins in Hong Kong in the course of business must apply for a license from the Financial Commissioner. Only fiat-backed stablecoins issued by licensed issuers can be sold to retail investors.