Jinse Finance reported that the Hong Kong Monetary Authority is studying the regulatory framework for managing digital Hong Kong dollars or stablecoins, and will promote the use of distributed ledger technology (DLT) with the aim of tokenizing bank deposits. It is reported that the Hong Kong Monetary Authority may hold a distributed ledger technology introduction seminar in the fourth quarter of 2023 to attract industry stakeholders to participate. However, Ruan Guoheng, vice president of the Hong Kong Monetary Authority, clarified that not all banks have to promote deposit tokenization, and emphasized that there is no fixed timetable yet, and the plan will be carried out concurrently but independently with the ongoing digital Hong Kong dollar research.