Golden Finance reported that the Hong Kong Treasury and the HKMA recently published a consultation summary on the regulatory system for stablecoin issuers. KPMG believes that the main concern of stablecoin users is the lack of trust in the reserve assets that support stablecoins, which also limits the widespread application of stablecoins. The consultation summary recommends that legal currency assets be used as reserve assets for stablecoins and supervised by regulators. This will help eliminate user concerns and promote the wider application of stablecoins. The introduction of a regulatory system for stablecoin issuers will not only enhance the confidence of issuers and users, but is also expected to promote innovation and development in the actual application of stablecoins in Hong Kong, and help Hong Kong play a core role in the development of future financial infrastructure. Paul McSheaffrey, senior partner of KPMG China Hong Kong Banking, said that the content of the consultation summary is of great significance to consolidating Hong Kong's position as a virtual asset hub. Stablecoins have become an increasingly popular payment tool and are expected to become an important part of financial infrastructure in the future.