According to Techub News, at the "10th Blockchain Global Summit" hosted by Wanxiang Blockchain Lab, Chiu Tat-kan, a member of the Legislative Council of the Hong Kong Special Administrative Region, said, "Hong Kong has launched a sandbox test for stablecoins and plans to further promote relevant legislation. With the issuance of licenses for virtual asset trading platforms and the improvement of regulations, stablecoins and RWA and other products will be quickly implemented in the Hong Kong market."