Hong Kong Financial Secretary Paul Chan: Stablecoins and other digital assets have development potential, and international cooperation is needed to manage risks

ChainCatcher news, Hong Kong Financial Secretary Paul Chan published a Secretary's essay titled "From New York to Washington," in which he pointed out that he attended the International Monetary Fund and World Bank Group annual meetings. Members of various economies recognize that the influence of digital assets is expanding rapidly, and there are many practical applications of related blockchain technology, especially in promoting intra-regional trade and addressing the efficiency and pain points of cross-border settlements. Among them, stablecoins and other digital assets have considerable development potential, and international cooperation should be strengthened to prudently manage the risks they pose to the stability of the financial system.