Hong Kong will host Bitcoin and stablecoin financial experiments, as reported by Caixin on December 29. The decision leverages Hong Kong's status as a global trade hub, providing a strategic advantage over Hainan, which has initiated a closed-loop operation. This development highlights Hong Kong's favorable regulatory environment, potentially benefiting altcoins and market sentiment indicators like the fear and greed index. Meanwhile, Hainan will focus on enhancing domestic and international market connectivity, differentiating the financial roles of the two regions.