Techub News reports that Hong Kong Legislative Council member Wu Jiezhuang tweeted that he will publicly consult the Secretary for Financial Services and the Treasury on July 2 regarding the latest situation on 'promoting the development of stablecoins.' The questions include how to promote the expansion of stablecoin application scenarios, including linking stablecoin issuing institutions with mainland application scenarios to facilitate the compliance from regulation to commercial ecology; how the government can utilize the implementation of (stablecoin regulations) to promote the openness and flexibility of Hong Kong's stablecoin regulations internationally, and combine Hong Kong's advantages under 'one country, two systems,' as well as its position as an international financial center favorable for stablecoin development, to attract global compliant stablecoin issuing institutions and large international financial institutions to issue stablecoins in Hong Kong and establish a presence there; and whether preparations will be made for the development of offshore RMB stablecoins, including seeking central support to establish the credibility of Hong Kong's offshore RMB stablecoins?
In addition, Wu Jiezhuang will also raise a follow-up question and initiate a Twitter poll, hoping to allow the industry to express opinions through this. The voting options include: Will Hong Kong include Bitcoin in its fiscal reserves, is there a compliance framework for decentralized autonomous organizations (DAO), can stablecoin issuers pay interest to their holders in the future, and others.
