Chen Haolin, Deputy Secretary for Financial Services and the Treasury Bureau of the Hong Kong Government, said that the Hong Kong Monetary Authority has conducted public consultation on the launch of stable coins and will gradually establish a regulatory framework in the future, with the goal of launching it before the end of next year. He also said that the Hong Kong government is actively participating in the virtual asset value chain and successfully issued tokenized green bonds earlier this year. It will continue to support the development of the industry in the future and welcome industries and talents to Hong Kong.
Chen Haolian attended an event and said in a speech that the government is focusing on the development of Internet 3.0. It has earlier issued a virtual asset development policy declaration and adopted the principle of "same business, same risks, same rules" for supervision. He believes that the industry can develop steadily in Hong Kong. In addition, it can also protect investors and ensure that anti-money laundering and other rules comply with international standards.
Chen Haolian also mentioned that in the past five years, the number of Hong Kong financial technology companies has increased exponentially, and now has accumulated more than 800 companies, providing diversified services, including virtual banking, virtual insurance, virtual asset trading, etc. (Zhitong Finance)