Hong Kong is unlikely to introduce a government-backed stablecoin, according to a senior researcher at OKG.
Connect/Create WalletNo wallet? No problem. You can set one up for free. We recommend Torus for first-time users.Hong Kong is unlikely to introduce a government-backed stablecoin, claimed according to a senior researcher at OKG.advocated for a government-issued HKD stablecoin to compete with dollar-denominated coins.
"There is little mention of it in the official statements from the Hong Kong government, instead, the government encourages innovative practices such as digital HKD and tokenized deposits," he told The Block.Jiang thinks the Hong Kong Monetary Authority will continue to execute their digital Hong Kong dollar in three stages, while accelerating the formulation of a stablecoin regulatory framework.could not compete with U.S.
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