Hong Kong to Issue First Stablecoin Licenses in March

Hong Kong's Financial Secretary Paul Chan has revealed plans to issue the first stablecoin issuer licenses in March under a new regulatory framework. According to NS3.AI, the government aims to introduce a comprehensive digital asset policy ordinance this year, which will establish licensing for digital asset trading and custody service providers. The Hong Kong Securities and Futures Commission is set to enhance market liquidity and promote innovation while ensuring investor protection.