Chen Maobo: It is expected to issue a stablecoin license later this year and develop digital assets with an active and prudent attitude

Foresight News, according to the Hong Kong Economic Daily, Hong Kong Financial Secretary Paul Chan continued to participate in the World Economic Forum Annual Meeting in Davos, Switzerland yesterday (January 20, Davos time) and attended Vice Premier Ho Lifeng’s special speech at the World Economic Forum Annual Meeting in the morning. Chen Maobo said that finance and technology can promote each other. Taking digital assets as an example, this financial innovation not only improves the transparency, efficiency, inclusiveness and risk management of financial services, but also more effectively guides capital to the real economy; in addition, finance is also a key force in supporting and empowering the development of technology. Chan Mo-po pointed out that as an international financial center, Hong Kong adopts a proactive and prudent attitude towards the development of digital assets and promotes responsible and sustainable development of the market based on the principle of "same activities, same risks, same supervision". Hong Kong has licensed 11 virtual asset trading desks starting in 2023 and is expected to issue stablecoin licenses later this year. In addition, the SAR government has also led by example in promoting the development of tokenization, including issuing three tranches of tokenized green bonds totaling approximately US$2.1 billion; and launching a regulatory sandbox to encourage application innovation.

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