Wu Jiezhang: It is expected that the first stablecoin license will be issued early next year

ChainCatcher news, according to Barrons, Hong Kong Legislative Council member Wu Jiezhuang revealed that the regulatory framework for stablecoins in Hong Kong is strict, and the first stablecoin license is expected to be issued in early 2026. He stated that the Hong Kong Legislative Council will also initiate legislative procedures next year for offline OTC trading, further improving the Web3 ecosystem.

Member Wu believes that digital assets have become an unstoppable trend, with many countries incorporating digital assets like Bitcoin into their reserves. He emphasized that Hong Kong has unique advantages in developing the Web3 field, including no foreign exchange controls, low tax rates, and support from the mainland market.