Stablecoins are here to stay. You may find other altcoins losing the value over time. But the stablecoins are going to stay in the market and they would chase other coins away. And while this is happening you may also notice that nations would issues the KYC while they are going to monitor your trades. So how are each countries dealing with this?

Hongkong is working on a model where the stablecoin wallets would require the KYC and also would require to be tracked in the exchange. This way the taxes would be monitored for them if they use it like a remittance or trading. And they would keep an eye on the trace too. 

That's not all Hongkong is working on cross border stablecoin payments too. So Chinese RMB and the HKD would be easier to move across the multiple supported nations. 

Say if you have a blockchain and want to host the HKD stablecoin on it. So there would be KYC and also the compliance for the wallet holders. So both the chain makers and the coin hodlers both are going to get into compliance. And hopefully in near future everything would be tracked and checked as well. So there is an amount of growth too. 

Hopefully in near future the expansion of such stablecoin payments would be lot more global and also it would become more easier to spend the money in the market. This is something we have to see in the grand scheme of things and we have something to explore as well. 

You can check out the new policy update here.