Golden Finance reported that Hong Kong Financial Secretary Chan Mo-po announced in the 2025-26 "Financial Budget" that he will soon issue a second policy declaration on the development of virtual assets, exploring how to combine the advantages of traditional financial services with technological innovation in the field of virtual assets, and Improving the security and flexibility of real economic activities will also encourage local and international companies to explore innovation and application of virtual asset technology. Chan Mo-po reiterated that the government will consult on the licensing system for virtual asset over-the-counter trading and custody services within the year. In terms of stablecoin regulation, the Hong Kong government has submitted a draft bill to the Legislative Council. After the regulations are passed, the HKMA will approve the license application as soon as possible.