【Block Rhythm】Hong Kong’s Financial Secretary revealed the latest progress on stablecoin policy at a public consultation meeting on the fiscal budget on January 12th.
Hong Kong’s stablecoin policy development is progressing smoothly, and the government will continue to advance related work. Interestingly, citizens proposed a new idea — using gold as the pegging target for stablecoins. The Secretary did not directly reject this but instead stated that the government will consider this possibility after completing the first phase of the stablecoin framework.
What’s even more interesting is that the government is already conducting relevant research on this. However, he also emphasized a key word: caution. This means that while the gold-pegging scheme has been included in the consideration scope, it still requires careful assessment of various risks and feasibility.
This public consultation is in preparation for the new fiscal budget statement to be issued on the 25th of next month. It appears that Hong Kong’s approach in the stablecoin regulatory field is quite proactive, but it won’t rush for quick results. Frankly speaking, orderly advancement is indeed more reliable.
香港は安定したコインの政策枠組みを推進し、金連動型プランが研究検討に含まれる
【Block Rhythm】Hong Kong’s Financial Secretary revealed the latest progress on stablecoin policy at a public consultation meeting on the fiscal budget on January 12th.
Hong Kong’s stablecoin policy development is progressing smoothly, and the government will continue to advance related work. Interestingly, citizens proposed a new idea — using gold as the pegging target for stablecoins. The Secretary did not directly reject this but instead stated that the government will consider this possibility after completing the first phase of the stablecoin framework.
What’s even more interesting is that the government is already conducting relevant research on this. However, he also emphasized a key word: caution. This means that while the gold-pegging scheme has been included in the consideration scope, it still requires careful assessment of various risks and feasibility.
This public consultation is in preparation for the new fiscal budget statement to be issued on the 25th of next month. It appears that Hong Kong’s approach in the stablecoin regulatory field is quite proactive, but it won’t rush for quick results. Frankly speaking, orderly advancement is indeed more reliable.