Hong Kong Secretary for Financial Services and the Treasury: Only a small number of stablecoin licenses will be issued in the first phase, and asset tokenization such as ETFs will be promoted in the future.

Hong Kong Secretary for Financial Services and the Treasury Christopher Hui said in an interview that only a small number of licenses will be issued in the first phase of stablecoin regulation. Regarding whether it is possible to issue RMB stablecoins, he said that there are currently no restrictions on pegged currencies, but if it involves other regional currencies, it may be necessary to consult with relevant institutions. [Foresight News]