Hong Kong advances stablecoin policy framework, with gold-pegged scheme included in research considerations

【Blockchain Rhythm】Hong Kong Financial Secretary revealed the latest progress on stablecoin policy at the public consultation on the fiscal budget on January 12.

Currently, Hong Kong’s stablecoin policy is developing smoothly, and the government will continue to promote related work. Interestingly, citizens proposed a new idea—using gold as the peg for stablecoins. In response, the Secretary did not directly reject it but said that the government would consider this possibility after completing the first phase of the stablecoin framework.

Even more interestingly, the government has already been conducting related research. However, he also emphasized a key word: caution. This means that the gold-pegged scheme is still under consideration, but various risks and feasibility need to be carefully evaluated.

This public consultation is in preparation for the new fiscal budget to be announced on the 25th of next month. It seems that Hong Kong’s attitude toward stablecoin regulation is quite proactive, but they are not rushing. To be honest, a steady and orderly advancement is indeed more reliable.