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Hong Kong lawmakers are optimistic about the development space for stablecoins and remind retail investors to be cautious in their investments.
On June 22, according to Hong Kong media New Town Finance Channel, Hong Kong Legislative Council member Ng Kit Cheung stated that there is a very large space for the development of stablecoins regarding the passage of the stablecoin regulatory draft establishing a licensing system for stablecoin issuers. He believes that it will become a combination of innovative finance and the real economy in the future, with more value-added and entrepreneurial opportunities. However, regarding internet companies and financial institutions intending to issue stablecoins in Hong Kong, Ng Kit Cheung expressed welcome but reminded retail investors not to be greedy, and to first understand the investment risks, maintaining a cautious attitude when making investments.