Paul Chan: Stablecoins are not for investment or speculation; licenses will only be granted to applicants with robust and genuine use cases

BlockBeats News, November 3, Hong Kong Financial Secretary Paul Chan stated at Hong Kong Fintechweek 2025 that Hong Kong's financial regulators shoulder a dual mission: regulation and promoting market development. While encouraging innovation, it is also necessary to ensure the real applicability of digital asset regulation, investor protection, and financial stability. Whether it is for digital asset trading platforms or stablecoins, we adhere to the principle of "same activity, same risk, same regulation." In particular, our regulatory approach to stablecoins is clear: stablecoins are not for investment or speculation, but to facilitate cost reduction, cross-border transactions, and real economic activities. This is why, under the licensing regime, approval for stablecoin licenses is only granted to applicants with a sustainable and robust business model and real use cases.