Ripple executive: The Hong Kong Monetary Authority can promote a mutual recognition mechanism for regulatory frameworks

Ripple's Global Policy Co-Head Rahul Advani stated that as other jurisdictions gradually establish stablecoin systems, the Hong Kong Monetary Authority can promote a mutual recognition mechanism for regulatory frameworks. When Hong Kong recognizes the mechanisms of other regions, locally licensed stablecoins are expected to circulate in Hong Kong, while Hong Kong stablecoins can also circulate in other regions.