According to Sing Tao Daily, the deputy chief executive of the Hong Kong Monetary Authority, Nguyen Kwok Hang, said that the design work on the stablecoin regulatory system is still in progress. After completion, the market will be consulted and then formal legislation will be enacted. Speaking of the recent suspected fraud incident on the virtual asset platform JPEX, Nguyen Kwok Hang said that when Hong Kong develops the encrypted asset business, it should focus on the possibilities brought by the technology platform, emphasizing that distributed ledger technology (DLT) and tokenization technology are beneficial to the operation of the entire financial market. New technologies bring risks as well as opportunities. Recent events highlight that Hong Kong needs an effective regulatory system. People with ulterior motives may package some transactions into unregulated products through technology, and the operation of the relevant transactions may not be illegal. Investors should be particularly careful when conducting related investment activities.

#稳定币