Chen Maobo: The stablecoin licensing strategy is "small steps, quick pace," and stablecoins are payment tools rather than investment tools

According to Asda Finance, the Financial Secretary of Hong Kong, Paul Chan, stated that the authorities' licensing strategy is "small steps, quick progress," and will initially issue a small number of licenses. There needs to be practical application scenarios, and only after summarizing experiences post-launch will a second batch be issued.

Stablecoins and digital assets are financial innovations that require encouragement for breakthroughs, but at the same time, safety must be ensured, and mechanisms must be in place to prevent money laundering, thus appropriate regulations are necessary. The benefits of stablecoins include decentralization and high efficiency, but they are merely a payment tool, not an investment tool.

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