TechFlow news, on August 9, Hong Kong Legislative Council member Wilson Ng posted on X platform stating that stablecoin issues have recently drawn significant attention from local Hong Kong institutions and stakeholders as well as global ones. The Hong Kong Monetary Authority has recently issued a comprehensive response to these topics, noting that stablecoins are an important tool for Web3 and financial innovation development. While monitoring related technological and market developments, we must also guard against bad actors exploiting stablecoin topics for fraud.
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