Hong Kong to Issue Second Virtual Asset Policy Statement

BlockBeats News, February 26: Hong Kong Financial Secretary Paul Chan announced in the 2025-26 Budget that the second Virtual Asset Development Policy Statement will be released soon. It will explore how to combine the advantages of traditional financial services with technological innovation in the virtual asset space, enhance the security and flexibility of real economic activities, and encourage local and international businesses to explore the innovation and application of virtual asset technology.

Paul Chan reiterated that the government will consult on the licensing regime for virtual asset over-the-counter trading and custody services within the year. Regarding stablecoin regulation, the Hong Kong government has submitted a bill to the Legislative Council. Once the bill is passed, the HKMA will approve license applications at the earliest opportunity.