Hong Kong’s Financial Secretary Paul Chan announced plans to implement an updated virtual asset policy framework by the end of 2025, emphasizing the use of Web3 to improve traditional financial sectors.
The new framework will introduce legislation for stablecoin regulation, adding to the existing licensing regime for 10 licensed virtual asset trading platforms, enhancing the region’s stance in the crypto market.
Efforts are ongoing to extend regulatory measures to over-the-counter trading, demonstrating Hong Kong’s commitment to become a leading blockchain hub while maintaining financial stability.
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