Xu Zhengyu: Hong Kong improves digital asset supervision, and the stablecoin licensing system helps the industry take off

PANews reported on July 4 that according to Zhitong Finance, on July 4, at the Hong Kong Digital Finance Awards 2025 ceremony, Hong Kong Financial Services and Treasury Bureau Director Xu Zhengyu said that Hong Kong is vigorously promoting the development of digital assets and has gradually built a regulatory framework that balances risk management and investor protection, as well as industry development, to promote the sustainable development of Hong Kong's digital asset ecosystem. He mentioned that the Hong Kong Stock Exchange has developed Hong Kong's first batch of digital asset indexes to provide investors with transparent and reliable Bitcoin and Ethereum price benchmarks in the Asian time zone, supporting Hong Kong's development into Asia's leading digital asset center. The stablecoin issuer licensing system to be implemented next month will help promote the development of real application scenarios and support Hong Kong's development into Asia's leading digital asset center.