Wu learned that the Financial Secretary of the Hong Kong Special Administrative Region, Paul Chan, has issued a statement stating that stablecoins are a cost-effective alternative to traditional financial systems and have the potential to bring about changes in payments and capital market activities, including cross-border payments. The legislation on stablecoins will come into effect on August 1st this year. The SAR government and financial regulatory agencies will strive to create a favorable market environment, accompanied by necessary regulatory measures, to promote the application of stablecoins by issuers in different scenarios, helping to solve the real pain points in business and citizens' lives. https://www. (wublock123.com)/index.php? m=content&c=index&a=show&catid=6&id=44752