【Hong Kong Legislative Council Member Wu Jiezhuang: Stablecoin reserve assets do not necessarily need to be kept in Hong Kong, plans to seek a compromise】Golden Finance reported that the regulatory framework for stablecoin issuers has been submitted to the Hong Kong Legislative Council for review this week. Legislative Council member and chairman of the Web3 and Virtual Asset Development Committee Wu Jiezhuang pointed out that stablecoins are fundamental infrastructure for virtual assets. In addition to being used for investment, they can also facilitate cross-border payments, making them an important tool for citizens to participate in virtual assets. However, the current regulatory direction suggests that issuers must entrust their reserve assets to banks in Hong Kong, which may not comply with the local regulations of individual issuers. Wu will intensify communication with the government and industry to seek a compromise, such as establishing contracts or notes for mutual recognition between the two regions, while not requiring the assets to be held in Hong Kong.