[Hong Kong will not allow retail trading of stablecoins for the time being] According to BlockBeats, Hong Kong Secretary for Financial Services and the Treasury Hui Ching-yu recently stated that stablecoins on the market will support their value with US dollars or gold, with the goal of stabilizing prices. However, there have been instances in the past where stablecoins experienced price fluctuations and even crashed. Reserve management by stablecoin issuers affects price stability and investors’ rights to redeem fiat currency. Therefore, retail trading will not be allowed until Hong Kong officially regulates stablecoins.

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