Xu Zhengyu: Hong Kong should provide financial products adapted to the development of the digital economy and improve the regulatory framework for stablecoins, virtual asset over-the-counter transactions, etc.

CoinVoice has recently learned that the Secretary for Financial Services and the Treasury of the Hong Kong Special Administrative Region Government, Paul Chan, said that Hong Kong will continue to enhance its market competitiveness, strengthen connectivity with the mainland, and accelerate the development of new financial fields. With these "three pillars", it will consolidate and enhance its status as an international financial center and serve the overall national development.

Hong Kong needs to provide financial products that are compatible with the development of the digital economy. Connectivity with the mainland market is very important for consolidating and enhancing Hong Kong's position as a financial center. Hong Kong will also accelerate the development of new financial sectors, including green finance and financial technology, and improve the regulatory framework for emerging sectors such as stablecoins and virtual asset over-the-counter transactions. It is hoped that the market will develop on a steady and sustainable path. [Original link]