[Ng Kit Chuang Proposes Establishing an Institution in Hong Kong to Coordinate Crypto Asset Development] Hong Kong Legislative Council member Ng Kit Chuang posted on the X platform, stating that Hong Kong's gradually relaxed policies will allow licensed companies and industry practitioners to fully realize their potential. The Chief Executive of the Special Administrative Region has proposed that the first batch of stablecoin issuer licenses is expected to be issued starting this March. He suggested that Hong Kong could consider establishing a dedicated institution or department to coordinate the development direction of digital and crypto assets, as well as introduce clear guidelines or regulations to facilitate the compliant implementation of decentralized autonomous organizations (DAOs) and attract more Level 1 blockchain projects to develop in Hong Kong.