Hong Kong Financial Secretary Xu Zhengyu: The licensing system for stablecoin issuers will promote the development of substantial application scenarios.

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On July 4, at the Hong Kong Digital Finance Awards 2025 ceremony, the Secretary for Financial Services and the Treasury, Christopher Hui, stated that Hong Kong is vigorously promoting the development of digital assets and has gradually established a regulatory framework that balances Risk Management and investor protection, as well as industry development, to promote the sustainable development of Hong Kong's digital asset ecosystem. Hui 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 Ether price benchmarks in the Asian time zone, supporting Hong Kong's development as a leading digital asset center in Asia. The stablecoin issuer licensing system, which will be implemented next month, will help advance the development of practical application scenarios and support Hong Kong in becoming a leading digital asset center in Asia. (Zhitong Finance)

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