BlockBeats news, on July 31, according to (Hong Kong Commercial Daily), Hong Kong Deputy Secretary for Justice Zhang Guojun stated that the (Stablecoin Regulation) set to take effect on August 1 is built on three pillars: 'licensing system', 'asset custody management', and 'technology and conduct regulation' to create a trustworthy market environment. He pointed out that the significance of the regulation lies in providing a clear and transparent legal mechanism to ensure the orderly and healthy development of Hong Kong's stablecoin market, thereby maintaining international market confidence in Hong Kong as a world-leading financial center. In the future, efforts will continue to deepen collaboration with the mainland and international markets in various fields, using internationalized legal and other professional services to support mainland and overseas enterprises in expanding their businesses using Hong Kong as an international financial platform.