Paul Chan: First Batch of Stablecoin Issuer Licenses to Be Issued in March; Digital Asset Policy Bill to Be Submitted Within the Year

Odaily News: In the "2026-27 Budget," Hong Kong Financial Secretary Paul Chan stated that the government will submit a digital asset policy bill within the year, establishing a licensing regime for service providers such as digital asset trading and custody. Currently, Hong Kong has implemented a licensing system for fiat-referenced stablecoin issuers, with the first batch of licenses to be issued in March. The government and financial regulators will continue to promote licensed issuers in exploring more application scenarios under compliance and controllable risk conditions. Chan also noted that the Hong Kong Securities and Futures Commission will further enhance the liquidity of Hong Kong's digital asset market under the premise of fully protecting investors, providing more products and services for professional investors, and will establish an accelerator to expedite market innovation. (Jin10)