According to Hong Kong Economic Daily, Hong Kong Financial Secretary Paul Chan Mo-po stated in the "Financial Budget 2026" that the government will submit a draft digital asset policy regulation within the year, establishing a licensing system for digital asset trading and custody service providers. Currently, Hong Kong has implemented a licensing system for fiat-backed stablecoin issuers, with the first licenses to be issued in March. The government and financial regulators will continue to promote licensed issuers to explore more application scenarios under compliance and risk control. Paul Chan also mentioned that the Hong Kong Securities and Futures Commission will further promote liquidity in Hong Kong's digital asset market while ensuring investor protection, providing more products and services for professional investors, and establishing an accelerator to accelerate market innovation.