[Paul Chan: Stablecoins are not for investment or speculation, licenses only granted to applicants with robust and practical use cases] BlockBeats News, November 3, Hong Kong Financial Secretary Paul Chan stated at Hong Kong Fintech Week 2025 that Hong Kong's financial regulators bear a dual mission: regulation and market development. While encouraging innovation, it is also necessary to ensure the true applicability of digital asset regulation, investor protection, and financial stability. This applies equally to digital asset trading platforms and stablecoins, as we adhere to the principle of same activity, same risk, same regulation. In particular, our regulatory approach to stablecoins is clear: stablecoins are not intended for investment or speculation but to facilitate cost reduction, cross-border transactions, and real economic activities. This is why, under the licensing regime, stablecoin licenses are only granted to applicants supported by sustainable and robust business models with practical use cases.