[Caixin: Industry insiders say stablecoins used as value transfer tools for cross-border payments require a Hong Kong Customs MSO license] Odaily Planet Daily reports that in the first half of the year, the rapid development of stablecoins globally has led many to believe that stablecoins bring more possibilities for the internationalization of the RMB. With Hong Kong's 'Stablecoin Ordinance' set to take effect on August 1, 2025, discussions about using RMB stablecoins to counter U.S. dollar hegemony have been ongoing. A Hong Kong-based blockchain technology practitioner in cross-border trade stated that, according to relevant Hong Kong regulations, if stablecoins are used as value transfer tools for cross-border payments, the functions of converting stablecoins to fiat currency or remittance fall under Money Service as defined by the 'Anti-Money Laundering Ordinance,' requiring an MSO (Money Service Operator) license issued by Hong Kong Customs. (Caixin)