Hong Kong's Financial Secretary Chan Mo-po advocates for cautious regulation of virtual assets, emphasizing concerns about confidentiality risks and the gradual development of stablecoins.
Hong Kong’s Financial Secretary Chan Mo-po highlighted the need for cautious regulation of virtual currencies, stressing that blockchain's confidentiality could pose risks to investor protection, anti-money laundering efforts, and financial stability. He also mentioned that stablecoins would be developed gradually, with the potential for asset-backed models such as gold. He reiterated the importance of investor education in the digital asset space.