Wu said that he learned that the Hong Kong government released the full text of the speech by the Secretary for Financial Services and the Treasury on the second reading of the "Stablecoin Bill", requiring that the total value should at all times be at least equal to the face value of the fiat stablecoin in circulation; holders should have the right to redeem stablecoins from the issuer at face value, and redemption requests must be processed without unreasonable fees and within a reasonable time; the regulatory system also stipulates a series of requirements for combating money laundering, risk management, disclosure requirements, auditing and appropriate personnel.