Hong Kong will submit a virtual asset licensing bill within a year to expand the regulatory framework. According to the Hong Kong Economic Times, Deputy Secretary for Finance, Chen Hao-lian, stated that Hong Kong aims to submit revised legislation to the Legislative Council this year to include virtual asset advisory and management services under a mandatory licensing system. The new framework will follow the principle of "same business, same risk, same rules" and align with licensing categories under the Securities and Futures Ordinance. Currently, over 200 licenses have been issued, covering trading (84), advisory (74), and management services (63).