Hong Kong Financial Secretary: Encourage issuers to expand the application of stablecoins to different scenarios

The Financial Secretary of Hong Kong, Paul Chan, published the Secretary's essay "Asia's New Era", saying that the Hong Kong stablecoin legislation will come into effect on August 1 this year, and the Hong Kong Special Administrative Region government and Hong Kong financial regulators will strive to create a favorable market environment, with the necessary regulatory measures, to promote issuers to apply stablecoins to different scenarios, and to help solve the real pain points in business and people's lives.