Hong Kong Treasury Bureau Xu Zhengyu: The licensing system for stablecoin issuers will promote the development of practical application scenarios

At the Hong Kong Digital Finance Awards 2025 ceremony today, Hong Kong's Secretary for Financial Services and the Treasury, Hui Cheng-yu, said that Hong Kong is vigorously promoting the development of digital assets. It has gradually built 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 Cheng-yu mentioned that the Hong Kong Stock Exchange has developed Hong Kong's first digital asset index to provide investors with transparent and reliable bitcoin and ethereum price benchmarks in the Asian time zone, supporting Hong Kong's development as a leading digital asset center in Asia. The licensing system for stablecoin issuers to be implemented next month will help promote the development of practical application scenarios and support Hong Kong's development as a leading digital asset center in Asia.