Deputy Financial Secretary of Hong Kong: Promoting the development of stablecoins will increase safety barriers

Hong Kong Deputy Financial Secretary Wong Wai lun stated at the event that the financial market needs innovation to expand the Hong Kong stock market. The government will adopt a strategy of "seeking stability and accuracy" when promoting the development of stablecoins, and appropriately increase security barriers to ensure safety and prevent criminals from exploiting them. At the same time, the Hong Kong government is expanding the capacity of gold storage facilities, aiming to increase it to 2000 tons in the next three years, and has invited the Shanghai Gold Exchange to participate. The plan is to put the gold central clearing system into operation within this year.