Stablecoin-related stocks saw an uptick in Hong Kong trading. As of press time, Guotai Junan International (01788) rose 4.82% to HK$2.61, while Yunfeng Financial (00376) climbed 4.5% to HK$3.48. ZA Online (06060) advanced 4.42% to HK$16.07, and Bright Smart (01428) increased 3.35% to HK$8.33.
The rally follows remarks by Hong Kong’s Secretary for Financial Services and the Treasury, Christopher Hui, who stated on December 19 that the government had received 36 stablecoin license applications across industries as of September this year. He noted that some licenses are expected to be issued early next year, prioritizing applicants with robust reserve management, price stability, and anti-money laundering measures.
Hui emphasized that these measures not only protect investors but also establish clear compliance pathways to minimize ambiguities that could lead to transactional disputes. Regarding licensing frameworks for virtual asset trading and custody services, he added that the Securities and Futures Commission is finalizing details, with plans to submit the proposal to the Legislative Council next year. The regulatory framework aims to cover key aspects of the virtual asset industry while balancing risk management and innovation.
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