Eddie Yue: Stablecoin issuers will be rejected for purely speculative or investment purposes; licenses will only be granted to applicants with a strong and legitimate use case

BlockBeats News, November 3rd — Hong Kong Financial Secretary Paul Chan stated at Hong Kong Fintech Week 2025 that Hong Kong's financial regulators have a dual mission of regulating and facilitating market development. While encouraging innovation, they must also ensure the genuine applicability of digital asset regulation, investor protection, and financial stability. Whether it is a digital asset trading platform or a stablecoin, we adhere to the same activities, the same risks, and the same regulatory principles. In particular, our regulatory approach to stablecoins is clear: stablecoins are not for investment or speculation but for promoting cost reduction, cross-border transactions, and real economic activities. That is why under a licensing regime, approval of stablecoin licenses is only open to applicants with a sustainable and robust business model supporting them and a genuine use case.