Deep Tide TechFlow news, according to the Sing Tao Daily report, the chairman of the Hong Kong Legislative Council's Web3 and Virtual Assets Development Subcommittee, Ng Kit Cheung, stated that although the stablecoin regulatory draft has been submitted for legislative council review, the current requirement for issuers to store reserve assets in Hong Kong banks may not comply with local regulations of some cryptocurrency businesses. He suggested exploring compromise solutions such as mutual recognition of contracts or notes between the two places, ensuring citizen rights without the need to store assets in Hong Kong. Deloitte China Hong Kong's digital asset managing partner, Lui Chi Hung, believes that Hong Kong's stablecoin regulation is at the forefront in the Asia-Pacific region, and relevant regulatory issues are expected to be gradually resolved.