According to Foresight News, the Hong Kong Securities and Futures Commission (SFC) has issued three licenses for virtual asset trading platforms (VATPs) and is currently processing 14 additional applications. The SFC's Executive Director of Intermediaries, Yeh Chi-hang, stated that the commission is adopting a relatively fast-track approach for 11 applications that are considered likely to be approved, with the aim of issuing several more licenses by the end of the year.
Furthermore, the Hong Kong Financial Services and the Treasury Bureau (FSTB) plans to regulate stablecoins at the product level by the end of this year, with issuer-level regulations expected to follow next year. The Hong Kong Monetary Authority (HKMA) is also set to issue the third batch of tokenized green bonds, although a specific timeline has not been established at this stage.