Hong Kong Chief Executive John Lee: The Monetary Authority is studying market opinions on regulating stablecoins and has begun preparations for the "digital Hong Kong dollar."

ChainCatcher news, Hong Kong Chief Executive John Lee published his first "Policy Address" during his term, mentioning that the government will take measures to comprehensively enhance the competitiveness of Hong Kong's financial services.

Regarding virtual assets, the government has submitted a draft bill proposing the introduction of a statutory licensing system for relevant service providers. The Hong Kong Monetary Authority is studying market opinions on regulating stablecoins and will ensure that the regulatory framework aligns with international regulatory recommendations and is suitable for local conditions.

In addition, the Hong Kong Monetary Authority has begun preparations for the "Digital Hong Kong Dollar" and is collaborating with mainland institutions to expand the testing of "Digital Renminbi" as a cross-border payment tool in Hong Kong. (Source link）