According to Techub News, Hong Kong Financial Services and the Treasury Bureau Secretary Paul Chan said at the Legislative Council meeting: "Regarding the sustainable development of virtual assets, we will submit a draft bill to the Legislative Council this year to regulate fiat stablecoin issuers. We are also adjusting the proposal to regulate virtual asset over-the-counter trading services, with the goal of completing the second round of public consultation next year and submitting a proposed licensing system to regulate virtual asset custody service providers."