Xu Zhengyu: Whether to limit the number of stablecoin issuers in the early stage depends on consultation and market response

The Director of the Hong Kong Financial and Treasury Bureau, Eddie Yue, stated in an interview with local media that financial development should be in line with the needs of the times. The Hong Kong government is currently consulting the public on regulatory systems for stablecoin issuers. The industry has shown some interest in issuing stablecoins. He said, "This is a new market with technological elements such as blockchain, which can have positive effects on the real economy and economic transactions. However, there are challenges and risks that need to be addressed." Whether to limit the number of issuers in the initial stage will depend on consultation results and market reactions.