Paul Chan, the financial secretary of the Hong Kong Special Administrative Region government, said at the 2025 Caixin Summer Summit that Hong Kong has launched a licensing system for digital asset trading platforms and a stablecoin licensing system, and is advancing regulatory arrangements for custody and over the counter. "This month, we will publish the second policy declaration on the development of digital assets in Hong Kong, focusing on the combination of financial services and innovation, and expanding the application of digital assets."