Hong Pizheng, Director of the Hong Kong Gold Association: Stablecoins should not be the object of speculation, but a long-term battle

PANews reported on July 20th that according to the Hong Kong Economic Times, Hong Kong Financial Development Bureau Chairman Hung Pei-cheng stated during a recent annual report release conference that stablecoins should not become a subject of speculation, and the digitalization of asset markets is a Longing game. Stablecoins should play a stabilizing role and should not adopt a short-sighted perspective. He believes that Hong Kong's development pace is faster than other financial centers. Hung Pei-cheng also revealed that stablecoins are one of the links in Hong Kong's financial market digitalization, aiming to tokenize currency intermediaries. He believes that different assets will be tokenized in the next step, but the development process will take time, and comprehensive tokenization will not happen immediately.