Hong Kong's Secretary for Financial Services and the Treasury, Christopher Hui, stated that Hong Kong continues to advance virtual asset regulation. The Stablecoin Ordinance has come into effect, and the HKMA is processing license applications for fiat-backed stablecoin issuers. The regulatory framework for virtual asset trading, custody, advisory, and management services will be submitted to the Legislative Council within this year. The government also plans to implement the OECD Crypto-Asset Reporting Framework, with automatic cross-border tax information exchange expected to start in 2028.