Xu Zhengyu: The Hong Kong government will regulate stablecoin issuers, and funds can be exempted from tax if they meet the requirements of the regulations

Odaily News Hong Kong Financial Services and Treasury Secretary Paul Chan said that the Hong Kong government has taken many specific measures to promote the development of the virtual asset market, including the fact that the exchange already has several virtual asset ETFs. The government will also regulate the issuers of stablecoins in the future. At the same time, it will regulate two aspects, including custodians, and consult the market on regulating virtual asset over-the-counter transactions; some other funds can be exempted from tax if they meet the requirements of the tax regulations. (Wen Wei Po)