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Ep 76 - The US GENIUS Act + HK Stablecoin Ordinance | HK Web3 Blueprint
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Episode 76 with Joshua Chu, Syed Musheer Ahmed and Sean Lee 🎧
The common theme for this episode is FinTech and Web3 writ large – with an eye towards digital assets and virtual currency.
In Spotlight segment, we’ll be speaking with a returning guest and a dear friend of the program – Syed Musheer Ahmed of Hong Kong-based FinStep Asia on the recently disseminated the “Hong Kong Web3 Blueprint: Building a Web 3 International Financial Hub” report. Joining Musheer is Sean Lee, co-lead of Web3 Harbour's Policy Committee and one of the key leaders of the Blueprint taskforce.
Following that, we’ll be chatting with local lawyer Joshua Chu on the recently passed US GENIUS Act and what it means for making the US a stablecoin hub.
Context and implications:
- What truly makes a digital-asset hub beyond regulation;
- How Hong Kong’s Web3 Blueprint prioritizes talent, infrastructure, and market use cases;
- What the US GENIUS Act and Hong Kong’s stablecoin regime mean for issuance and market structure;
- Where stablecoins and CBDCs can coexist—and the legal traditions shaping each path;
- Risks to monitor: speculative excess, meme coins, corporate BTC treasuries.
The Regulatory Ramblings podcast is brought to you by The University of Hong Kong's Reg/Tech Lab (Building Better Financial Systems), HKU-SCF FinTech Academy, Asia Global Institute, and HKU-edX Professional Certificate in FinTech, with support from HKU Faculty of Law. The program is led by Douglas Arner and hosted by Ajay Shamdasani.
For more details about the authors and links, please visit: hkufintech.com/rr
HKU FinTech is the leading fintech research and education in Asia. Learn more at www.hkufintech.com.
Chapters
1. Ep 76 - The US GENIUS Act + HK Stablecoin Ordinance | HK Web3 Blueprint (00:00:00)
2. Hong Kong Web3 Blueprint explained as a roadmap (00:04:51)
3. Talent and liquidity as Hong Kong’s differentiators (00:09:48)
4. Gen Z’s stake in future financial rails (00:17:48)
5. Intro on the US GENIUS & Clarity Acts and HK’s Stablecoin Ordinance (00:25:54)
6. First movers and FATF pressure - cutting through the hype (00:31:57)
7. Stablecoins vs CBDCs - common-law and civil-law paths (00:35:21)
8. China’s quiet lever: liquidity via seized-asset sales (00:46:20)
9. Risk radar: euphoria, meme coins, corporate BTC treasuries (00:58:05)
10. Takeaway: treat crypto as tech - build the infrastructure (01:04:17)
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