Li Jiachao: Hong Kong is implementing a stablecoin issuer system.

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On September 17, Hong Kong SAR Chief Executive John Lee delivered his fourth policy address during his term, stating that the Hong Kong Monetary Authority will promote commercial banks to launch tokenized deposits and facilitate the trading of real tokenized assets. For example, using tokenized deposits to settle tokenized money market funds, assisting the government in normalizing the issuance of tokenized bonds, and encouraging banks to strengthen risk management through the Regulatory Sandbox. John Lee indicated that Hong Kong is implementing a stablecoin issuer system and formulating legislative proposals for the licensing system of digital asset trading and custody services. The Hong Kong Securities and Futures Commission is studying ways to expand the types of digital asset products and services available to professional investors while ensuring full protection for investors, as well as enhancing international tax cooperation to combat cross-border tax evasion. ( Jin10 )

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