Paul Chan: Stablecoin policy progressing steadily, exploring the possibility of gold-backed options

ChainCatcher News, according to a report by Hong Kong Economic Journal, Hong Kong Financial Secretary Paul Chan stated at the public consultation forum on the fiscal budget that Hong Kong's current stablecoin policy is developing well and that related work will continue to be advanced step by step.

In response to a citizen's suggestion to use gold as the underlying asset for stablecoin pegging, Paul Chan replied that the government will consider this possibility after completing the first phase of the stablecoin framework. Relevant research is already underway, but he emphasized that it needs to be handled with caution.

This forum is part of the Hong Kong government's efforts to solicit public opinion on the new fiscal budget, which will be officially released on the 25th of next month.