Hong Kong's Deputy Financial Secretary: The development of stablecoins will "prioritize stability before progress," and the gold central clearing system is expected to operate within the year

According to Aastocks, during a speech at an event, Hong Kong's Deputy Financial Secretary, Huang Weilun, discussed digital assets and cryptocurrencies. He stated that Hong Kong will further promote the development of stablecoins in the future, but emphasized "first seek stability, then seek progress," to prevent illegal capital inflows and ensure a robust financial system.

In addition, Huang Weilun also pointed out that Hong Kong is actively expanding its gold storage capacity, aiming to increase the total capacity to 2,000 tons over the next three years. Currently, a central gold clearing system is being established, and the Shanghai Gold Exchange has been invited to participate, with the goal of becoming operational within this year.