Hong Kong Deputy Financial Secretary: Stablecoin Development to "Prioritize Stability Before Advancement," Gold Central Clearing System Expected to Operate Within the Year

Odaily News Hong Kong Deputy Financial Secretary Wong Wai-lun mentioned digital assets and crypto assets during a speech at an event. He stated that Hong Kong will further promote the development of stablecoins in the future but emphasized "prioritizing stability before advancement" to prevent the inflow of illicit funds and ensure the robustness of the financial system. Additionally, Wong Wai-lun pointed out that Hong Kong is actively expanding its gold storage facility capacity, aiming to increase the total capacity to 2,000 tons within the next three years. A gold central clearing system is currently being established, and the Shanghai Gold Exchange has been invited to participate, with the goal of commencing operations within this year. (Sina Finance)