Techub News reports that Hong Kong Financial Secretary Paul Chan Mo-po stated that the government will submit a draft digital asset regulation to the Legislative Council within the year, establishing a licensing system for digital asset trading and custody service providers. Currently, Hong Kong has implemented a licensing regime for fiat-backed stablecoin issuers, with the first licenses to be issued in March; the government and financial regulators will continue to promote licensed issuers to explore more application scenarios under compliance and risk control. The Securities and Futures Commission will further enhance liquidity in Hong Kong's digital asset market while ensuring investor protection, providing more products and services for professional investors, and establishing an accelerator to speed up market innovation.