Senior officials from the Hong Kong Financial Services and the Treasury Bureau recently made important statements regarding stablecoin policy. It is reported that Hong Kong has a clear positioning on stablecoins, viewing them as a payment tool and another form of fiat currency. The authorities emphasized that stablecoins are not speculative instruments and there is no room for speculation, while also urging the public to exercise caution in related areas.

It is worth noting that relevant officials have pointed out that stablecoins have significant cost advantages in cross-border payments. The payment costs of traditional banking systems can be as high as 3%, while the costs of transactions using stablecoins are expected to drop to around 1%. This advantage not only significantly reduces the costs of cross-border payments but also has the potential to enhance the overall efficiency of economic operations.

This statement reflects the open attitude of Hong Kong's regulatory authorities towards digital financial innovation, while also demonstrating a high regard for financial stability. With the rapid development of global financial technology, Hong Kong, as an international financial center, is actively exploring how to strike a balance between innovation and regulation in order to maintain the safety and efficiency of the financial system.