Ripple executives suggest Hong Kong promote a mutual recognition mechanism for stablecoin regulation to achieve cross-border circulation

Techub News: According to Hong Kong Economic Journal, Rahul Advani, Global Policy Co-Head of Ripple, stated that as other jurisdictions gradually establish stablecoin regimes, the Hong Kong Monetary Authority can advance mutual recognition mechanisms for regulatory frameworks. When Hong Kong recognizes other regions' mechanisms, locally licensed stablecoins are expected to circulate in Hong Kong, while Hong Kong stablecoins can also circulate in other regions.