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

According to Odaily, Hong Kong Deputy Financial Secretary Huang Weilun mentioned digital assets and crypto assets in 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 progress" to prevent the inflow of illicit funds and ensure the stability of the financial system. Additionally, Huang Weilun 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, with the Shanghai Gold Exchange invited to participate, and the goal is to have it operational within this year. (Sina Finance)