TechFlow news, June 23 — Hong Kong Financial Secretary Paul Chan disclosed in his speech at "Wealth Management Expo 2025" that Hong Kong has completed legislation on stablecoins, with the relevant laws set to take effect on August 1, making Hong Kong one of the first jurisdictions globally to establish a statutory regulatory framework for stablecoins.
Chan stated that Hong Kong embraces the development of digital assets and has accelerated efforts in recent years to improve the related legal and regulatory framework. Regarding the virtual asset exchange licensing regime, 10 licenses have already been issued, with an additional eight applications currently under review.
Moreover, Hong Kong is fully committed to consolidating and enhancing its status as an international financial center, including developing asset and wealth management, offshore RMB business, supporting mainland enterprises going global, and promoting financial innovation. Currently, Hong Kong's virtual asset exchange-traded products (ETPs) exceed 210, offering diversified options covering investments in securities from different regions, derivatives, and digital assets.
