TechFlow, July 23 — According to Jinshi Data, Norman Chan, Chief Executive of the Hong Kong Monetary Authority, spoke again about stablecoins. Recently, with the hype around the concept of stablecoins, market sentiment has become overly exuberant. Some listed companies, regardless of whether their core business is related to stablecoins or digital assets, have seen immediate "gold-making" effects—sharp stock price increases, surging trading volumes, and significantly enhanced public recognition—simply by announcing intentions to venture into the stablecoin business. In fact, we have previously made it clear that only a handful of stablecoin licenses will be granted initially, meaning many will be disappointed. Even for those obtaining licenses, given our emphasis on steady development and the substantial resource investment required in the early stages, the contribution to short-term corporate profitability remains uncertain. We urge investors to remain calm and exercise independent judgment when processing such so-called "positive" market news.
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