Hong Kong will issue its second virtual asset policy declaration

2025-02-26 13:09:23

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ChainCatcher news, Hong Kong Financial Secretary Paul Chan announced in the 2025-26 Budget that a second policy declaration on the development of virtual assets will be published soon, exploring how to combine the advantages of traditional financial services with technological innovations in the virtual asset sector, and enhancing the security and flexibility of real economic activities. It will also encourage local and international enterprises to explore innovations and applications of virtual asset technology.

Paul Chan reiterated that the government will consult on the licensing system for over-the-counter trading and custody services for virtual assets within the year. Regarding the regulation of stablecoins, the Hong Kong government has submitted a draft bill to the Legislative Council, and once the bill is passed, the Monetary Authority will expedite the approval of license applications.

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