Hong Kong's Secretary for Financial Services and the Treasury, Christopher Hui, announced that the city has received 36 applications for stablecoin issuance licenses as of the end of September. The government plans to issue some of these licenses by early 2026, prioritizing robust reserve management, price stability mechanisms, and anti-money laundering measures to protect investors and minimize trading disputes. Hui also revealed that the licensing framework for virtual asset custody services is being developed in collaboration with the Securities and Futures Commission. The details are expected to be submitted to the Legislative Council next year, aiming to balance regulation and innovation while enhancing the regulatory framework for Hong Kong's digital asset ecosystem.