Victory Securities' Chen Chen: Hong Kong is a "policy buffer zone" for the development of stablecoins.

On August 1st, the Hong Kong "Stablecoin Regulations" officially came into effect. In addition to the issuing entities that have obtained the first batch of scarce licenses, the entities related to stablecoins in Hong Kong also include platforms that play a deterministic role in creating stablecoin use cases, such as virtual asset trading platforms, custodian banks, audit institutions, etc. Chen Chen, Chief Strategy Officer of virtual asset trading platform VDX and Partner of Victory Securities Ecological, believes that stablecoins present both opportunities and challenges, and investors need to make rational judgments and discernment. Against the backdrop of global stablecoin issuance, the primary role of the Hong Kong market is to conduct limited and controlled experiments and openness, forming a "policy buffer zone." He believes that as an international financial center, Hong Kong has significant advantages.