Xu Zhengyu: Hong Kong improves digital asset regulation, stablecoin licensing system helps industry soar

According to a report by Zhitong Finance, on July 4th, at the Hong Kong Digital Finance Awards 2025 ceremony, Hong Kong Secretary for Financial Services and the Treasury, Patrick Hui, stated that Hong Kong is vigorously promoting the development of digital assets and has gradually established a regulatory framework that balances risk management, investor protection, and industry development, promoting the sustainable development of the Hong Kong digital asset ecosystem. He mentioned that the Hong Kong Stock Exchange has developed the first batch of digital asset indices in Hong Kong, providing investors with transparent and reliable Bitcoin and Ethereum price benchmarks within the Asian time zone, supporting Hong Kong's development into a leading digital asset center in Asia. The stablecoin issuer licensing system, which will be implemented from next month, will help promote the development of substantive application scenarios and support Hong Kong's development into a leading digital asset center in Asia.