Hong Kong actively promotes digital asset regulation to support financial innovation and development

On August 1, 2025, Hong Kong will usher in an important financial regulatory reform. The Financial Secretary, Paul Chan, recently announced that the new stablecoin regulations will officially take effect on that day, marking a key step for Hong Kong in the regulation of digital assets.

According to reports, the new regulations will introduce a licensing system for stablecoin activities, aimed at creating a more attractive environment for global issuers while enhancing market liquidity. Notably, the regulations allow stablecoin issuers to anchor multiple fiat currencies, no longer limited to the Hong Kong dollar, and this flexibility is expected to further enhance Hong Kong's competitiveness as an international financial center.

In his article titled "Accelerating Development and Seeking Progress while Maintaining Stability," Chen Maobo emphasized that this move aims to inject new vitality into financial institutions. He also disclosed that the trading volume of digital assets by banks in Hong Kong exceeded HKD 17.2 billion last year, fully reflecting the enormous potential of the digital asset market.

In fact, Hong Kong has always been at the forefront of digital financial innovation. As early as 2020, Hong Kong pioneered the global initiative by launching a comprehensive licensing system for virtual asset trading platforms. The introduction of this new regulation will undoubtedly further consolidate Hong Kong's leading position in the global digital asset field.

In the cryptocurrency market, Bitcoin (BTC) continues to dominate. According to the latest data from a certain data platform, the current price of Bitcoin is $105,894.24, with a market capitalization of $2.10 trillion, accounting for 63.74% of the entire market. Its 24-hour trading volume is $38.2 billion, an increase of 10.86% compared to the previous day, demonstrating the market's ongoing enthusiasm for Bitcoin.

With new stablecoin regulations set to be implemented, there is a general consensus in the industry that this will bring more opportunities and challenges to Hong Kong's digital asset market. The clarification of regulations is expected to attract more international investors and projects to Hong Kong, while also promoting the healthy and orderly development of the market. Hong Kong is steadily and innovatively moving towards becoming a global leading digital finance center.