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Chen Maobo: 10 virtual asset trading platform licenses have been issued, and another 8 applications are under review.
According to a report from 深潮 TechFlow on June 23, Hong Kong's Financial Secretary, Paul Chan, revealed in his speech at the "Wealth Management Expo 2025" that Hong Kong has completed the legislative work on stablecoins, and the related laws will take effect on August 1, making Hong Kong one of the first jurisdictions in the world to establish a regulatory framework for stablecoins.
Chen Maobo stated that Hong Kong embraces the development of digital assets and has accelerated the improvement of the relevant legal regulatory framework in recent years. Regarding the licensing system for virtual asset trading platforms, 10 licenses have been issued, and another 8 applications are under review.
In addition, Hong Kong is making every effort to consolidate and enhance its status as an international financial center, including developing asset management and wealth management, offshore RMB business, supporting mainland enterprises going abroad, and promoting financial innovation. Currently, there are over 210 types of exchange-traded products (ETP) on Hong Kong virtual asset exchanges, with a diverse range including investments in securities, derivatives, and digital assets from different regions.