There are currently 14 virtual asset trading platform licenses pending approval in Hong Kong, with plans to regulate stablecoin products by the end of the year.

CoinVoice has recently learned that, according to a report by Hong Kong media Wen Wei Po, the Executive Director of the Intermediaries Division of the Hong Kong Securities and Futures Commission, Ye Zhi Heng, stated that three licenses have currently been granted to virtual asset trading platforms (VATP) in Hong Kong, and an additional 14 applications are being processed. The Securities and Futures Commission is taking a relatively quick approach to approve 11 applications that have been considered for licensing, with hopes of granting several more licenses by the end of the year.

In addition, the Hong Kong Financial Secretary's Office expects to regulate stablecoin products by the end of the year, and to implement regulations at the issuer level next year. The Monetary Authority will issue the third batch of tokenized green bonds, but there is currently no definite timetable.