TechFlow news, January 13 — According to Hong Kong News Network, CPPCC National Committee member and Ministry of Finance advisory expert Luo Zhuojian published an article on the same day urging Hong Kong to seize the development opportunities of stablecoins by adopting a dual strategy of regulatory enhancement and innovation to solidify its status as an international financial center. He proposed four key recommendations: expanding participation in the regulatory sandbox, promoting cross-border financial collaboration, advancing stablecoin applications in payments and capital markets, and building a Web3 industry cluster.
Luo pointed out that currently only three companies have entered the HKMA's stablecoin issuer sandbox, and he suggested relaxing access requirements to stimulate innovation. Meanwhile, Hong Kong should leverage its advantage of being pegged to the US dollar to advance stablecoin adoption in areas such as cross-border payments and asset management, and establish Web3 industrial parks to attract talent.
