Hong Kong is accelerating the progress of building a regulatory framework for stablecoins. The Financial Secretary recently stated that he hopes to receive applications promptly after the relevant regulations come into effect and plans to issue the first batch of stablecoin licenses within this year. It is worth noting that the number of licenses issued in the first round is expected to be controlled in single digits, reflecting the cautious and orderly approach of regulatory agencies. This move highlights Hong Kong's active embrace of financial innovation while also striving to build a healthy and orderly digital asset ecosystem. This initiative not only helps enhance Hong Kong's attractiveness as an international financial center but also provides important references for global stablecoin regulatory practices. With the gradual improvement of the regulatory framework, Hong Kong's position in the global digital finance competition is expected to be further consolidated and enhanced.