Chen Maobo: Promote issuers to expand the application of stablecoins to different scenarios

ChainCatcher news, Hong Kong Financial Secretary Paul Chan published a Secretary's essay titled "A New Era for Asia," stating that the legislation for stablecoins in Hong Kong will take effect on August 1 this year. The Hong Kong SAR government and Hong Kong financial regulators will strive to create a favorable market environment, along with necessary regulatory measures, to encourage issuers to expand the application of stablecoins to various scenarios, helping to address the substantial pain points in business operations and citizens' daily lives.