Foresight News reports that the People's Bank of China has released the China Financial Stability Report (2024), which includes mentions of global cryptocurrency regulatory dynamics and highlights the compliance progress of cryptocurrencies in Hong Kong. Given the potential spillover risks that crypto assets pose to the stability of the financial system, regulatory authorities in various countries are increasingly intensifying their oversight of crypto assets. Hong Kong is actively exploring a licensing regime for crypto assets, categorizing virtual assets into two types for regulation: securitized financial assets and non-securitized financial assets. It implements a distinctive 'dual licensing' system for operators of virtual asset trading platforms, applicable to the Securities and Futures Ordinance and the Anti-Money Laundering Ordinance. Institutions engaged in virtual asset businesses must apply for a registered license from the relevant regulatory authorities to operate. At the same time, Hong Kong requires large financial institutions such as HSBC and Standard Chartered Bank to include cryptocurrency exchanges in their daily client supervisory scope.