Wu Jie market maker: It is expected that the first stablecoin license will be distributed in early 2026.

[Wu Jie Zhuang: The first stablecoin license is expected to be issued in early 2026] Hong Kong Legislative Council member Wu Jie Zhuang revealed that the regulation of 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 for offline OTC trading next year to further improve the Web3 ecosystem. Member Wu believes that digital assets have become an unstoppable trend, with many countries incorporating Bitcoin and other digital assets into their reserves. He emphasized that Hong Kong has unique advantages in developing the Web3 sector, including no foreign exchange controls, low tax rates, and being backed by the mainland market. (Barron's)