Yu Weiwen: Avoid excessive speculation in stablecoins. At best, only a few stablecoin licenses will be issued in the initial stage.
PANews reported on July 23 that according to Jinshi, Hong Kong Monetary Authority Chief Executive Eddie Yue talked about stablecoins again. With the recent hot speculation of the stablecoin concept, the market has become overly excited. Some listed companies, regardless of whether their main business is related to stablecoins or digital assets, have "turned stones into gold" as long as they declare their intention to develop stablecoin business. The stock price will rise immediately, the stock trading volume will increase significantly, and the company's reputation will also be greatly improved. In fact, we have made it clear earlier that at most only a few stablecoin licenses will be approved in the initial stage. In other words, there are many disappointed people. Even if the license is obtained, based on our consideration of steady development and the resource investment required in the initial stage, there will be a certain degree of uncertainty in the contribution to the company's short-term profits. We hope that investors will remain calm and think independently when digesting the "good" news in the market.
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