【People's Bank of China Releases Financial Stability Report, Mentioning Hong Kong Cryptocurrency Regulation】The People's Bank of China released the China Financial Stability Report (2024), which includes mentions of global cryptocurrency regulatory dynamics, with a focus on Hong Kong's compliance progress in cryptocurrency. Given the potential spillover risks of crypto assets on financial system stability, regulatory agencies worldwide are 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 business must apply for a registration license from the relevant regulatory authorities to operate. Additionally, Hong Kong requires large financial institutions such as HSBC and Standard Chartered Bank to include cryptocurrency exchanges in their routine customer oversight.