Hong Kong Legislative Council Member Lin Lin: The implementation of stablecoins denominated in Hong Kong dollars and using multiple assets as collateral should be expedited

On August 3, Lam Lin, a member of the Legislative Council of the Hong Kong Democratic Alliance for Betterment of Hong Kong, pointed out that ASEAN countries have started to develop Web 3.0. If Hong Kong does not develop, it will be greatly lagging behind others. She suggested that the SAR government should develop the digitization and tokenization of real assets (RWA), and formulate and introduce a legal system for the circulation of RWA tokens in a timely manner. She suggested that the implementation of Hong Kong dollar-denominated stablecoins using multiple assets as collateral should be accelerated, and Hong Kong dollar-based stablecoins issued based on multiple assets should be implemented. The vigorous development of the Web 3.0 industry will enable Hong Kong to maintain its position in financial technology and attract more companies from related industrial chains to settle in Hong Kong, including a large number of funds and