According to Deep Tide TechFlow news on December 11, as reported by East Net, Chan Ho-lam, the Deputy Secretary for Financial Services and the Treasury of Hong Kong, revealed that Hong Kong currently has over 300 Web3-related companies, and 3 virtual asset trading platforms have obtained licenses from the Securities and Futures Commission. More platforms are expected to be approved within the year.

To promote industry development, Hong Kong will read the "Stable Coin Bill" for the first time on December 18, regulating the issuers of fiat-backed stable coins. In addition, a second round of public consultation on the regulation of over-the-counter trading of virtual assets will be conducted in 2025, along with proposals for a licensing system for virtual asset custodian service providers.