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Wu Jie Zhuang: Assets including offshore RMB can also be considered and explored as the underlying for stablecoins.
[Wu Jiezhang: The use of offshore RMB and other assets as underlying for stablecoins is within the scope of exploration and consideration] On May 21, Wu Jiezhang, a member of the Legislative Council of Hong Kong, stated during the discussion of the “Stablecoin Regulation Bill” that the stablecoins legislated in this bill are based on fiat assets. However, apart from Hong Kong dollars or US dollars, assets including offshore RMB as underlying are also within the scope of exploration and consideration. Promoting this matter within a Compliance structure will contribute to the national strategy of RMB internationalization. (Techub News)