Chen Maobo: Hong Kong has implemented a system for issuing licenses to stablecoin issuers, and the first batch of licenses will be issued next month.

On February 25th, the Financial Secretary of the Hong Kong Special Administrative Region Government, Paul Chan, delivered the government's budget for the fiscal year 2026-2027 in the Legislative Council. Chan stated that Hong Kong has already implemented a licensing regime for stablecoin issuers, and the first batch of licenses will be issued next month. The government and financial regulators will continue to promote licensed issuers to explore more application scenarios in compliance with regulations and controllable risks.