Hong Kong Secretary for Financial Services and the Treasury Christopher Hui: The positioning of stablecoins in Hong Kong is clear, and there are no speculative opportunities

According to ChainCatcher news, as reported by Jin10 Data, the Secretary for Financial Services and the Treasury of Hong Kong, Hui Chengyu, stated that the positioning of stablecoins in Hong Kong is clear, serving as a delivery tool and another manifestation of legal tender, with no speculative opportunities, urging the public to be cautious. He mentioned that the cost of payments through the banking system could reach 3%, while the cost of using stablecoins is expected to be as low as 1%, which can reduce cross-border payment costs and enhance economic operational efficiency.