Hong Kong's Legislation on Stablecoins Opens New Opportunities
AI Summary
According to BlockBeats, Hong Kong Legislative Council member Ng Kit Chuan expressed optimism about the potential for stablecoin development in the region following the passage of the law to create a licensing system for stablecoin issuers. Ng emphasized significant opportunities for innovation in finance and the real economy, forecasting an increase in added value and entrepreneurial initiatives.
Welcoming interest from internet companies and financial institutions in issuing stablecoins in Hong Kong, Ng advised retail investors to be cautious. He stressed the importance of a thorough understanding of investment risks and adhering to a cautious approach when investing in stablecoins.
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