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    Advocates call for Hong Kong govt stablecoin to compete with Tether and USD Coin“Issuing a stablecoin pegged to the Hong Kong dollar not only helps to solidify Hong Kong’s leadership in the blockchain sector but also propels the progress of the digital Hong Kong dollar," said the report.

    Wang Yang, Cai Wensheng, Lei Zhibin and Wen Yizhou co-authored a paper arguing the HK government’s plan of encouraging private firms to issue stablecoins was “too conservative.”

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