余偉文:下周發布穩定幣發行人發牌制度摘要 避免市場過度炒作
金管局總裁余偉文於匯思發文稱,將於下周公布「穩定幣發行人發牌制度」的摘要說明,文件會闡述金管局接受和處理牌照申請的安排。
他指,穩定幣作為新興的支付工具,並通過監管而逐漸進入傳統金融體系,有積極的意義,公眾對它的功能和發展前景感興趣並有所期待,正常不過。但是有必要防範市場和輿論過度炒作,最近有一些現象值得關注。
一是過度概念化。圍繞穩定幣的討論容易集中於其對傳統金融特別是支付體系的顛覆作用,但是一旦要由虛入實,從概念和理論層面轉到應用場景和具體安排,就出現明顯落差。以香港的經驗為例,至今已經有數十家機構主動接觸金管局團隊,有的明確表示有意申請穩定幣牌照,有的屬於初步探路性質。
他表示,總結這些接觸的經驗,很多只停留在概念階段,如提出要提升跨境支付效率、支持Web3.0發展、提升外匯市場效率等願景,但缺乏實際的應用場景,無法提出切實可行的具體方案和落實計劃,更遑論具備管控風險的意識和能力。一部分能提供應用場景的,機構本身卻缺乏發行穩定幣的技術和管控各類金融風險的經驗和能力。參與穩定幣可以有多種模式,對於這類機構而言,較實際的做法似乎是與其他穩定幣發行機構合作,提供應用場景,而非追求作為發行主體。
他指,更值得關注的是泡沫化趨勢。近期隨著穩定幣概念的熱炒,市場出現了過度亢奮的情緒,一些上市公司,不管本業與穩定幣或者數碼資產是否相關,只要宣稱有意開拓穩定幣業務即「點石成金」,股價即應聲上漲、股票交易量大增之餘,公司知名度亦得以大大提升。
他指,當局早前已明確表明,在初階段充其量只會批出數個穩定幣牌照,換言之,失望者不在少數。而即使取得牌照,基於當局希望穩步發展的考慮,加上初期所需要的資源投入,對公司短期盈利的貢獻會有一定的不確定性,希望投資者在消化市場「利好」消息時保持冷靜和獨立思考。
此外,當局注意到最近已經出現了借推銷數碼資產和穩定幣進行的詐騙行徑,令民眾蒙受損失。《穩定幣條例》8月1日生效,按照條例規定,自生效日起,向香港公眾宣傳推廣任何無牌穩定幣,均屬違法。希望市民提高警覺,以免誤墮法網;這段時間如果有人向市民宣傳推廣無牌穩定幣,亦必須保持警惕。
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