Paul Chan: Hong Kong Expected to Issue Stablecoin Licenses Later This Year

Odaily News Financial Secretary Paul Chan stated at the World Economic Forum Annual Meeting that Hong Kong adopts a proactive yet prudent approach to developing digital assets, promoting market development under the principle of "same activity, same risk, same regulation." Since 2023, Hong Kong has licensed 11 virtual asset trading platforms and is expected to issue stablecoin licenses later this year. Additionally, the Hong Kong Special Administrative Region government has issued three batches of tokenized green bonds totaling approximately USD 2.1 billion and launched a regulatory sandbox to encourage application innovation. (Hong Kong Economic Journal)