Deputy Financial Secretary of Hong Kong: Stablecoin Development to "Prioritize Stability Before Progress," Gold Central Clearing System Expected to Operate Within the Year

Techub News reported, according to Zhitong Caijing, Hong Kong's Financial Secretary, Mr. Wong Wai-lun, mentioned digital assets and crypto assets in a speech at an event. He stated that Hong Kong will further promote the development of stablecoins in the future but emphasized "seeking stability before progress" to prevent the inflow of illegal funds and ensure the stability of the financial system. Additionally, Mr. Wong Wai-lun also pointed out that Hong Kong is actively expanding its gold storage facility capacity, aiming to increase the total capacity to 2,000 tons within the next three years. Currently, a central gold clearing system is being established, and the Shanghai Gold Exchange has been invited to participate, with the goal of putting it into operation within this year.