Hong Kong Advances Virtual Asset and Gold Markets Amid Legislative Efforts

According to Odaily, Hong Kong's Secretary for Financial Services and the Treasury, Xu Zhengyu, announced that the city is actively developing its virtual asset market alongside its gold commodity market. Hong Kong aims to innovate in new financial sectors, including fintech, virtual assets, stablecoins, and green finance. This week, efforts will be made to secure legislative support for establishing a regulatory framework for stablecoins, addressing significant market demand. The next steps involve continuous innovation and expansion into new markets.