According to Shen Chao TechFlow news on June 16, as reported by Jin10, the Financial Secretary of the Hong Kong SAR government, Paul Chan Mo-po, recently wrote that with the vigorous development of the digital asset market, the demand for stablecoins is expected to further increase. Stablecoins can serve as a Medium of Exchange without being restricted by traditional payment times and regions, and their Programmability features can lead to diversified innovative solutions, automating and smartening financial service processes. Noting that many market participants are very interested in this, the Hong Kong Monetary Authority will process the received license applications as soon as possible after the "Stablecoin Regulation" comes into effect, allowing qualified applicants to start their business.

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