Hong Kong Financial Secretary: Embracing the development of digital assets, currently processing the approval of eight virtual asset trading platform license applications

BlockBeats News, June 23rd: Hong Kong Financial Secretary Paul Chan stated in a keynote speech at a forum on June 21st that, "Recently, the market has shown strong interest in digital assets, especially sparking intense discussions on stablecoin issuance. As an international financial center, Hong Kong must continuously reform and innovate to enhance our competitive edge. We embrace the development of digital assets and have accelerated the improvement of relevant legal and regulatory frameworks in recent years. For example, the virtual asset trading platform licensing regime has issued 10 licenses and is in the process of approving eight additional applications. We have also just completed the legislative work on stablecoins, and this legislation will take effect on August 1, making Hong Kong one of the first jurisdictions globally to establish a statutory regulatory framework for stablecoins."