According to Mars Finance, the Financial Secretary of the Hong Kong SAR Government, Paul Chan, stated at the 2025 Caixin Summer Summit that Hong Kong has launched a licensing system for digital asset trading platforms and a licensing system for stablecoins, and is advancing regulatory arrangements for custodianship and over-the-counter trading. 'This month, we will release the second policy declaration regarding the development of digital assets in Hong Kong, focusing on the integration of financial services and innovation, and expanding the application scenarios of digital assets,' (Shanghai Securities Journal)