Shares of cryptocurrency companies in Hong Kong have surged as investors react positively to new regulatory developments. The upcoming licensing system for stablecoin issuers, effective August 1, has fueled optimism. Guotai Junan International's shares jumped 28%, Victory Securities rose 33%, OSL increased 8%, and Dmall Inc. gained 10%. This surge follows regulatory approvals for Guotai Junan and Victory Securities to trade crypto assets, while OSL holds a retail license and Dmall is preparing to issue stablecoins. The Hong Kong Monetary Authority's new rules will require stablecoin issuers to obtain licenses, with only a few expected to be granted this year. The regulatory framework is considered progressive, supporting multi-currency stablecoins and focusing on B2B applications due to low public awareness and a robust domestic digital payment system.