According to online reports, Hong Kong's Secretary for Financial Services and the Treasury, Mr Hui Ching-yu, said on a TV program today (29th) that digital assets are the general trend, emphasizing that stablecoins are not a tool for making money or making money, but a tool for financial development. Xu Zhengyu said that at present, financial activities flow through different intermediaries or institutions, while stablecoins flow in the blockchain, which will help improve the efficiency and operating speed of financial activities and make the real economy more efficient. Asked about the possibility that stablecoins may weaken international monetary sovereignty, Xu Zhengyu said that the government fully understands the relevant risks, has clear regulatory concepts, requires stablecoins issuers to have a certain amount of capital or reserves, and regulates the redemption time of stablecoins to ensure that buyers or institutions can redeem currency.