Wu said that according to Wenhui.com, Hong Kong Treasury Department Deputy Director Chan Ho-lim said at the Legislative Council Web3 and Virtual Asset Development Subcommittee meeting that the stablecoin issuer license system has a 6-month transition period. Issuers with substantial issuance business can submit license applications within the first 3 months, otherwise they must be closed in an orderly manner before the end of the 4th month. Legislative Council member Wu Jiezhuang hopes that the government will release the Web3 development roadmap as soon as possible to enhance the confidence of the industry and overseas investors. Legislative Council member Qiu Dagen is concerned about the lack of transparency of the HKMA's "sandbox" plan and hopes to resolve related issues before the official license is issued.