Paul Chan: We will carefully consider the gold stablecoin proposal; virtual currencies are part of financial innovation.

According to Foresight News , citing the Hong Kong Commercial Daily, Hong Kong Financial Secretary Paul Chan recently stated that thanks to increased stamp duty revenue driven by strong financial market performance, Hong Kong's operating accounts are expected to return to a surplus sooner than anticipated. In response to a suggestion from an audience member to launch a gold-linked stablecoin, Chan said that stablecoins will be developed gradually, and after completing the first step, suggestions to link them to gold or other assets will be considered, emphasizing the need for caution. Furthermore, he pointed out that cryptocurrencies are part of financial innovation and should be embraced by Hong Kong, but they need to be included in an appropriate regulatory framework to mitigate risks, and investor education needs to be strengthened.