Hong Kong will release its second virtual asset policy declaration

According to Golden Finance, Hong Kong Financial Secretary Paul Chan announced in the 2025-26 Budget that he will soon release the second policy statement on the development of virtual assets, exploring how to combine the advantages of traditional financial services with technological innovation in the field of virtual assets, and improve the security and flexibility of real economic activities. He will also encourage local and international enterprises to explore innovation and application of virtual asset technology. Chen Maobo reiterated that the government will consult on the licensing system for over-the-counter trading and custody services of virtual assets within the year. In terms of stablecoin regulation, the Hong Kong government has submitted a bill to the Legislative Council. After the bill is passed, the Hong Kong Monetary Authority will approve the license application as soon as possible.