During the recent IMF and World Bank Group meetings, Hong Kong’s Financial Secretary Paul Chan Mo-po emphasized the need for international cooperation in navigating digital asset challenges, particularly stablecoins. He highlighted their potential for trade efficiency and cross-border settlements while urging a coordinated approach to manage risks that could destabilize financial systems. Chan stressed that while stablecoins offer significant development potential, prudent risk management is crucial to prevent market disruptions. This advocacy aligns with Hong Kong’s regulatory stance, which seeks a balance between fostering innovation and safeguarding stability.