News AnalysisThe push by Hong Kong’s Legislative Council to authorize a diverse range of fiat-referenced stablecoins is raising concerns about the stability of its long-standing Linked Exchange Rate System (LERS) pegged to the U.S. dollar.

Hong KongHong Kong is grappling with a severe real estate crisis and economic downturn.Michael Ku6/18/2025|Updated: 6/18/20250:00News AnalysisThe phenomenon of “involution,” or “nei juan”—a Chinese buzzword meaning “inward curl” that describes intense competition to survive ongoing socioeconomic woes in mainland China—has rapidly rippled over Hong...