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Hong Kong Financial Secretary and Treasury Secretary Paul Chan: Clear Positioning of Stablecoins in Hong Kong, No Speculative Opportunities Exist

Summary: According to Jinshi data, Hong Kong Financial Secretary and Treasury Secretary Paul Chan stated that the positioning of stablecoins in Hong Kong is clear, serving as a delivery tool and another manifestation of legal tender, with no speculative opportunities. He cautioned the public to be cautious. He mentioned that the cost of payment through the ...

According to Jinshi data, Hong Kong Financial Secretary and Treasury Secretary Paul Chan stated that the positioning of stablecoins in Hong Kong is clear, serving as a delivery tool and another manifestation of legal tender, with no speculative opportunities. He cautioned the public to be cautious. He mentioned that the cost of payment through the banking system could reach 3%, while the cost of using stablecoins is expected to be as low as 1%, reducing cross-border payment costs and enhancing economic efficiency.

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Link: Hong Kong Financial Secretary and Treasury Secretary Paul Chan: Clear Positioning of Stablecoins in Hong Kong, No Speculative Opportunities Exist [Copy]

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