[Hong Kong Stablecoin Licensing Adopts 'Small Steps, Quick Progress,' Emphasizing Use as Payment Tools Rather Than Investment Targets] According to a report by Golden Finance, on April 13, Hong Kong Financial Secretary Paul Chan Mo-po stated that Hong Kong is adopting a 'small steps, quick progress' strategy for stablecoin regulation. The first batch of licenses will be issued in limited quantities, requiring applicant institutions to have practical application scenarios. After implementation and experience summarization, the second batch of licenses will be promoted. He pointed out that stablecoins and digital assets belong to the field of financial innovation, requiring a balance between encouraging development and risk control, including establishing anti-money laundering and other regulatory mechanisms. He also emphasized that stablecoins possess advantages such as decentralization and high efficiency, but their essence is as payment tools rather than investment tools. Additionally, Paul Chan mentioned that under the current international situation and security environment, Hong Kong needs to remain highly vigilant and achieve 'proactive defense' by enhancing the competitiveness and global influence of its financial markets. At present, the government and financial institutions have established a round-the-clock, cross-market monitoring system to ensure the stable operation of the market.