Hong Kong Special Administrative Region: The government may use stablecoins as a government payment tool to fully leverage their potential

Jinse Finance report, the Hong Kong Special Administrative Region government today released the "Hong Kong Digital Asset Development Policy Statement 2.0". In the statement, the Hong Kong Special Administrative Region government expressed support for stablecoins and other tokenized projects. To fully leverage the potential of stablecoins, the government and regulatory authorities will provide a favorable market environment and necessary regulatory guidance, promoting licensed stablecoin issuers in Hong Kong to research and implement solutions in different application scenarios, to address practical pain points in economic activities. To demonstrate the government's support and take the lead, the government welcomes market participants to propose suggestions on how the government can experiment and use licensed stablecoins, such as improving the efficiency of government payments.