Hong Kong Financial Secretary Paul Chan: First batch of stablecoin issuer licenses to be issued in March, digital asset policy bill to be submitted within the year

Techub News reports, according to Jinshi, Hong Kong's Financial Secretary Paul Chan stated that the government will submit a digital asset policy bill to the Legislative Council within the year, establishing a licensing system for service providers such as digital asset trading and custody. Currently, Hong Kong has implemented a licensing system for fiat-referenced stablecoin issuers, with the first batch of licenses to be issued in March; the government and financial regulators will continue to promote licensed issuers to explore more application scenarios under the premise of compliance and controllable risks. The Securities and Futures Commission will further enhance the liquidity of Hong Kong's digital asset market under the full protection of investors, provide more products and services for professional investors, and establish an accelerator to speed up market innovation.