Wu said that Hong Kong Legislative Council member Wu Jiezhuang tweeted that the passage of the "Stablecoin Regulation" marks a further improvement in the regulation of cryptocurrency assets in Hong Kong. The regulation is based on international standards, establishes a high-threshold licensing system, emphasizes application scenarios and business sustainability, and the Monetary Authority positions stablecoins as payment tools, communicating regulatory expectations with the market through a "sandbox mechanism." He pointed out that the key in the future lies in the effective integration of stablecoins with the traditional financial system, and suggested that Hong Kong could learn from the EU's MiCA experience to strengthen cross-border coordination.