Hong Kong's stablecoin audit standards may be issued in 1 to 3 years

According to Wu Said, Hong Kong Accounting and Financial Reporting Bureau Chairman Sun Deji said that the Hong Kong stablecoin industry is still in its early stages, and if detailed audit standards are formulated too early, it may be detrimental to the development of the industry. He expects that Hong Kong may not issue comprehensive stablecoin audit and accounting treatment guidelines within 1 to 3 years, clarifying audit methods and the confirmation, measurement and disclosure requirements of financial statements.