On February 11, Hong Kong’s Financial Secretary Paul Chan announced that the city is prepared to issue the first stablecoin licenses in March, marking the official transition of local stablecoin regulation into the practical implementation phase. This statement was made during a digital asset industry conference, sparking significant market attention on topics such as the “Hong Kong stablecoin regulatory framework” and the “prospects for compliant stablecoin issuance.”
Paul Chan pointed out that in the initial phase, only a limited number of licenses will be issued. Regulatory authorities will focus on whether applicants have clear use cases, sustainable business models, and comprehensive compliance and risk management systems. He emphasized that stablecoins are not merely payment tools but are important infrastructure connecting traditional finance with on-chain economies, requiring a balance between innovation and risk control.
In addition to stablecoins, Hong Kong is also finalizing the licensing regime for custodial service providers, with related legislation expected to be introduced this summer. This initiative will complement the existing digital asset regulatory framework, covering key areas such as issuance, trading, and custody, thereby building a more comprehensive compliant digital asset ecosystem.
Regarding industry trends, Paul Chan mentioned three accelerating directions: the continuous expansion of real-world asset tokenization, the deepening integration of decentralized finance (DeFi) with traditional finance, and the increasingly close combination of artificial intelligence and blockchain technology. Currently, traditional financial products like government bonds and money market funds are increasingly issued on-chain to improve settlement efficiency, support partial ownership, and enhance the liquidity of previously illiquid assets.
He also noted that as AI agents gradually gain autonomous decision-making and execution capabilities, a “machine economy” may emerge in the future. AI systems could hold and transfer digital assets on-chain, pay for services, and trade with each other. This concept is also seen as a potential key application scenario for stablecoins and blockchain infrastructure.
As the first batch of stablecoin licenses approaches, Hong Kong is further consolidating its leading position in digital asset regulation and innovation in Asia.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
U.S. stocks rebound sharply, Bitcoin dips to 62K, market focuses on NVIDIA's earnings report
U.S. stocks closed higher across the board on Tuesday, as concerns about AI-impact companies eased. AMD's stock surged nearly 9% due to its partnership with Meta. Bitcoin briefly fell to $62,510, and overall crypto market sentiment remains pessimistic, with traders awaiting NVIDIA's earnings report.
ChainNewsAbmedia57m ago
Vitalik Buterin: Open to "anti-data center populism," which may help delay the progress of AGI
Vitalik Buterin stated on X that restricting the supply of industrial-grade hardware computing power might be a practical way to delay the development of Artificial General Intelligence (AGI). He believes that reducing the availability of large-scale computing infrastructure could help extend the timeline for AGI development. However, merely restricting data centers in densely populated areas is not enough; he estimates that a reduction of 10 to 100 times in computing power is necessary, and even in ideal scenarios, a 100 to 10,000 times reduction could be required to make a real impact.
GateNewsBot8h ago
StarkWare CEO proposes a five-step action plan, calling on the crypto industry to address the potential threat of quantum computing
StarkWare CEO Eli Ben-Sasson calls on the crypto ecosystem to proactively deploy post-quantum security upgrades, recommending five steps to address the threat of quantum computing, including enhancing education, organizing resources, consulting experts, and upgrading system protocols.
GateNewsBot12h ago
Assist in post-war economic reconstruction! Trump’s "Peace Committee" is considering creating a "Dollar Stablecoin" for Gaza
The Financial Times of the UK quoted sources familiar with the matter as saying that the "Board of Peace," a peace committee led by U.S. President Donald Trump and aimed at promoting post-war reconstruction in the Middle East, is evaluating the creation of a USD stablecoin for the Gaza Strip to serve as a digital transaction tool for local residents, thereby revitalizing the Gaza economy.
Since Hamas launched a large-scale attack on Israel in October 2023, the Gaza Strip has been mired in a quagmire of war. The subsequent intense airstrikes and ground military operations by Israel aim to completely dismantle Hamas armed forces, but the prolonged conflict has also caused devastating destruction in Gaza, triggering a severe humanitarian crisis.
The Financial Times pointed out that Gaza's current traditional financial system is almost completely paralyzed. Local ATMs are either destroyed by explosions or forced to shut down, coupled with strict measures by Israeli authorities.
区块客12h ago
El Salvador advances the reform of Bitcoin education initiatives within the public education system
BlockBeats News, February 24 — According to DL News, El Salvador is further advancing its Bitcoin experiment through a new public education initiative. The Bitcoin Diploma 2.0, launched by the El Salvador National Bitcoin Office on Sunday, is a "complete reimagining of its educational program."
The first batch of teaching materials has been printed and will be used in El Salvador's education system. The program is scheduled for full implementation in public schools by 2026.
GateNewsBot12h ago
Stronger US Dollar and Weakening Cryptocurrencies, Also Extends to Gold
The US Dollar strengthened, reaching 97.810 on the index, while cryptocurrencies fell by 3.06% in market cap, and gold dropped over 1%. Uncertainty in macroeconomic conditions and geopolitical tensions are influencing these trends.
TheNewsCrypto13h ago
