Odaily Planet Daily News: Hong Kong Secretary for Financial Services and the Treasury, Eddie Hui, stated on a television program today (29th) that digital assets are the trend, emphasizing that stablecoins are not a tool for making money or wealth, but a tool for financial development. Xu Zhengyu stated that financial activities currently involve the circulation of funds through different intermediaries or institutions, and the circulation of stablecoins on the blockchain helps to improve the efficiency and speed of financial activities, making the real economy more efficient. When asked about the possibility of stablecoins weakening international monetary sovereignty, Xu Zhengyu stated that the government fully understands the related risks, has a clear regulatory concept, requires stablecoin issuers to have certain capital or reserves, and regulates the redemption time of stablecoins to ensure that buyers or institutions can redeem the currency. (Ta Kung Pao)
