National Committee of the Chinese People's Political Consultative Conference (CPPCC) Yao Zhisheng: Hong Kong should strive to become a global stablecoin issuance center

BlockBeats News, August 26th. According to the Hong Kong Ta Kung Pao, Yao Zhisheng, a member of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), published an article titled "Focusing on Three Themes to Promote High-Quality Development in Hong Kong." In the article, it was pointed out that stablecoins pegged to fiat currency possess the openness, transparency, decentralization, and globalization attributes of cryptocurrency granted by blockchain technology and distributed ledgers, as well as the characteristic of maintaining the value of fiat currency. Hong Kong, as an international financial center and the world's largest offshore RMB business center, should leverage the "one country, two systems" advantage, seize the strategic high ground in stablecoin development, strive to become a global hub for stablecoin issuance, and enhance its role as a "digital financial hub."