TechFlow, June 29 — According to Ta Kung Pao, Hong Kong's Secretary for Financial Services and the Treasury, Christopher Hui, said in a television program today (29th) that digital assets are an inevitable trend. He emphasized that stablecoins are not tools for making money but instruments for financial development. Hui stated that current financial activities involve fund transfers through various intermediaries or institutions, whereas stablecoins circulate on blockchains, which helps improve the efficiency and speed of financial operations, thereby enhancing the effectiveness of the real economy. When asked about the potential of stablecoins to undermine international monetary sovereignty, Hui said the government fully understands the associated risks and has a clear regulatory framework, requiring stablecoin issuers to maintain adequate capital or reserves and regulating the redemption timeline of stablecoins to ensure buyers or institutions can redeem the currency.
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