Hong Kong To Release New Virtual Asset Policy Statement

According to BlockBeats, on February 26, Hong Kong's Financial Secretary Paul Chan announced in the 2025-26 Budget that the government will soon release a second policy statement on the development of virtual assets. This initiative aims to explore the integration of traditional financial services with technological innovations in the virtual asset sector, enhancing the security and flexibility of real economic activities. The government will also encourage both local and international enterprises to explore innovations and applications in virtual asset technology. Paul Chan reiterated that the government will conduct consultations within the year on the licensing regime for over-the-counter trading and custody services of virtual assets. Regarding stablecoin regulation, the Hong Kong government has submitted a bill to the Legislative Council. Once the bill is passed, the Hong Kong Monetary Authority will expedite the approval of license applications.