The Hong Kong Monetary Authority (HKMA) released its 2022 Annual Report. Regarding the digital Hong Kong dollar, it pointed out that the HKMA will adopt a three-track approach to prepare for the possible issuance of digital Hong Kong dollars in the future, and launch a second-track pilot program to invite the industry to conduct in-depth research on feasible application scenarios of digital Hong Kong dollars. Yu Weiwen concluded that while we embrace financial innovation and the benefits it brings, we must also understand the need to monitor and deal with the risks that may arise from related developments. He said that we are closely watching the development of the virtual asset field and participating in international discussions on related regulatory matters. He revealed that after considering the opinions collected from the public consultation and relevant international standards, the HKMA will adopt a "same risk, same regulation" approach to formulate a regulatory system for stablecoins and define its regulatory scope. #crypto2023 #BTC #Binance #ETH #Web3