PANews reported on June 8 that according to Zhitong Finance, on June 6, the Hong Kong Special Administrative Region Government published the "Stablecoin Ordinance (Effective Date) Notice" in the Gazette, clarifying that August 1, 2025 is the implementation date of the "Stablecoin Ordinance" (Chapter 656). On June 7, Hong Kong Financial Services and the Treasury Bureau Director Xu Zhengyu said in an interview that the underlying stablecoin is legal tender, and in the future it can be used as an electronic asset through blockchain and other technologies for payment.

Xu Zhengyu said that the issuers of stablecoins are supervised by the Hong Kong Monetary Authority, and the general principles of supervision are similar to those of traditional financial assets. The relevant issuers must comply with regulations on reserve asset management and redemption, including properly separating customer assets. When stablecoin holders make redemption requests, they must be completed within one working day to meet user requirements.

When talking about the future application scenarios of stablecoins, Xu Zhengyu gave an example. Since stablecoins have payment characteristics, when services or projects are carried out in the "Belt and Road" region, and the local currency exchange rate fluctuates greatly or the financial system is not very mature, there will be certain risks if the local currency is used for payment. In this case, the other party can use stablecoins for payment purposes.