Secretary for Financial Services and the Treasury of Hong Kong: It is expected that some stablecoin licenses will be issued early next year, with priority given to sound reserve management, price stability, and anti-money laundering measures.

Techub News: According to Hong Kong Economic Times, Hong Kong's Secretary for Financial Services and the Treasury, Christopher Hui, said at an event on Friday (19th) that as of the end of September this year, 36 stablecoin license applications from various industries have been received. It is expected that some licenses will be issued early next year, with priority given to robust reserve management, price stability, and anti-money laundering measures. He pointed out that these measures not only protect investors but also help resolve potential disputes by establishing a clear compliance path, reducing ambiguities that could lead to transactional conflicts.

Regarding the progress of the licensing regime for virtual asset trading services and custodial service providers, Hui noted that detailed content of the licensing system is being formulated in collaboration with the Hong Kong Securities and Futures Commission. The plan is to submit it to the Legislative Council for deliberation next year, emphasizing that the regulatory framework will cover key aspects of the virtual asset industry, striving to balance risk management and innovation. He reiterated that the Hong Kong government has "carefully crafted" various policy measures to coordinate standards for Web 3.0 and digital assets, aiming to protect investor rights, ensure clear and transparent regulation, and promote international alignment, thereby creating an environment that fosters innovation without compromising stability.