In an exclusive interview with the Hong Kong Economic Times, Hong Pei-zheng, chairman of the Hong Kong Financial Development Bureau, stated that stablecoins should not be used as a short-term speculation tool, but rather as a long-term strategic approach, with the key focus on promoting payment infrastructure and asset market digitization. Hong Kong will officially implement a stablecoin regulatory system on August 1st, providing a clear compliance framework that will help attract global institutions to conduct issuance, custody, and trading businesses in the city. Hong Kong does not intend to compete with US dollar stablecoins, but instead aims to consolidate its strategic positioning in financial technology infrastructure.
Hong Pizheng, Chairman of the Hong Kong Financial Services Development Council: Stablecoins are a long-term battle, and the regulatory system will be launched in August
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