Chen Haolian: As of the end of April this year, ten virtual asset trading platforms have obtained licenses.

On May 19, Mr. Chen Haolian, Deputy Director of the Hong Kong Financial Services and the Treasury Bureau, spoke at a meeting of the Legislative Council's Subcommittee on Web3 and Virtual Asset Development, stating that as of the end of April this year, ten virtual asset trading platforms have obtained licenses. The Securities and Futures Commission of Hong Kong is also actively processing other license applications to ensure that all platforms operate in compliance with regulatory requirements. Mr. Chen mentioned that considering the important role of stablecoins in the Web3 and virtual asset ecosystem, the Hong Kong government submitted the "Stablecoin Bill" to the Legislative Council at the end of last year to establish a regulatory system for stablecoin issuers. The bill will resume its second reading debate on May 21. With the implementation of this bill, it will improve the regulatory framework for virtual asset activities, promote financial innovation, and effectively address the potential risks that stablecoins may pose to currency and financial stability. If the bill is passed, they will implement the regulatory system as soon as possible this year, and have already started relevant preparations, including drafting regulatory guidelines and producing educational materials. Furthermore, Hong Kong is actively preparing for regulatory measures for over-the-counter trading services for virtual assets and a licensing system for virtual asset custodian service providers, with the goal of conducting public consultations as soon as possible this year to collect stakeholders' opinions and ensure that the measures meet market requirements. Education is also a key focus of their work in protecting investors. The Securities and Futures Commission of Hong Kong continues to collaborate with the Investor Education Centre to promote investor education on virtual assets, raising public awareness of related products and services. As of April this year, online seminars have recorded approximately 880,000 views, indicating a certain demand for public education on virtual assets. For students, Hong Kong has also released animated short films to explain the basic knowledge of virtual assets to primary and secondary school students, encouraging them to develop good financial attitudes. Since its launch in March of this year, the short film has already received 2.1 million views during the promotional period.