Hong Kong Monetary Authority Chief Executive: Avoid Overheating in Stablecoin Speculation; Only a Few Stablecoin Licenses Will Be Issued in the Initial Stage

According to Zhitong Finance, Eddie Yue, Chief Executive of the Hong Kong Monetary Authority, once again discussed stablecoins, stating that with the recent hype surrounding the concept of stablecoins, the market has seen excessive excitement. Some listed companies, regardless of whether their main business is related to stablecoins or digital assets, have experienced a "Midas touch" effect simply by announcing their intention to develop stablecoin business. Their stock prices have risen in response, stock trading volume has increased significantly, and the company's visibility has also been greatly enhanced. The HKMA has previously made it clear that it will only issue a few stablecoin licenses at most in the initial stage, and hopes that investors will remain calm and think independently when digesting "positive" market news. [Zhitong Finance]