Li Jiachao: Hong Kong is implementing a stablecoin issuer system and promoting tokenized asset trading

ChainCatcher news, according to Jinshi reports, Hong Kong Chief Executive John Lee stated in his fourth policy address during his term that the Hong Kong Monetary Authority will promote commercial banks to launch tokenized deposits and facilitate the trading of real tokenized assets. John Lee pointed out that Hong Kong is implementing a stablecoin issuer system and formulating legislative proposals for a licensing system for digital asset trading and custody services, while strengthening international tax cooperation to combat cross-border tax evasion.