Cheng Maobo: The strategy for issuing stablecoins is "small steps and quick progress"; stablecoins are a payment tool, not an investment instrument.

ME News message, April 13 (UTC+8). Hong Kong Financial Secretary Paul Chan Mo-po said the licensing strategy is “small steps and quick progress.” Initially, only a small number of licenses will be issued, and there should be real application scenarios. After the products are launched, experience will be summarized before a second batch of licenses is issued. Stablecoins and digital assets are financial innovations that need to be encouraged to achieve breakthroughs, but safety must also be upheld. There should be mechanisms in place to prevent money laundering, so appropriate regulation is necessary. The benefits of stablecoins include decentralization and high efficiency; however, they are only a payment tool, not an investment tool. (Source: Foresight News)