Chairman of Hong Kong Financial Development Board: Stablecoin should not become a speculative target, believe there will be "tokenization" of various assets

By: theblockbeats.news|2025/07/20 19:12:00
0
Share
copy

BlockBeats News, July 20th. According to the Hong Kong Economic Times, on the eve of the implementation of the Hong Kong "Stablecoin Regulation" on August 1st, dozens of companies have expressed their intention to apply for or participate in the stablecoin business. When hosting the annual report release conference, Norman Chan, Chairman of the Hong Kong Monetary Authority, stated that stablecoins should not be speculative instruments. The digitization of asset markets is a long-term strategic move, and stablecoins should play a stabilizing role. One should not have a short-term perspective. He believes that Hong Kong's current development pace is among the leading group in other financial centers.

Norman Chan, who also serves as the CEO of Standard Chartered's international business, mentioned that, to his knowledge, the Monetary Authority will only start accepting issuer applications in August. Stablecoins are one aspect of the digitization of Hong Kong's financial market, allowing the tokenization of transaction currencies. He believes that the next step will involve the tokenization of different assets. However, the development process takes time and will not lead to a comprehensive "tokenization" of Hong Kong within 24 hours.

-- Price

--

You may also like

a16z partner: perpetual contracts are rewriting the global trading rules

Perpetual contracts are shedding the label of tools in the crypto space and transforming into a foundational force reshaping the global trading structure. Thanks to breakthroughs in decentralized platforms and the introduction of RWA, perpetual contracts, with their round-the-clock operation, high c...

Bitcoin ETF Inflows Just Turned Positive After 5 Months of Outflows: What Does That Mean for BTC Price Now?

The Hidden Risks Behind Bitcoin ETF Inflows in 2026: What Traders Should Know. The question now isn't whether inflows are happening. It's what they're telling you about the next phase and whether your portfolio is positioned for it.

Decoding 2026's Bitcoin ETF Data: How to Trade Alongside Institutional Smart Money in 2026

After months of sustained outflows, rolling 30-day net ETF inflows just crossed 30,000 BTC. That's not noise. Historically, when institutional capital rotates back in at this scale, it marks a regime shift — not just a bounce.

Auto Earn Bonus 2026: WEEX vs Binance vs Bybit vs OKX vs Kraken (Only 1 Pays Extra)

Auto Earn 2026: Binance? Bybit? No extra bonus. Only WEEX gives +0.5% + 300% APR referral. Limited-time. See exactly how much more you can earn.

Auto Earn 2026: WEEX Offers 0.5% Extra + 300% APR Bonus — More Than Binance & Bybit?

Most exchanges offer Auto Earn, but only WEEX adds an extra 0.5% bonus on balance growth + 300% APR referral rewards in 2026. Here’s how WEEX compares to Binance, Bybit, OKX, and Kraken — and why you might earn more with a simple toggle.

Seven Green Candles Meet Three White Soldiers | Rewire News Morning Brief

Last night the Fed minutes already released the "hold the line on tightening" signal, CPI is the second shoe

Popular coins

Latest Crypto News

Read more