Over 300 web 3 companies in hong kong: Currently, Hong Kong hosts more than 300 Web 3 enterprises, reflecting its commitment to technological advancement. The government expects a rise in licenses for virtual asset trading platforms by the year’s end, further boosting sector confidence and growth.

Upcoming stablecoin legislation: The Financial Services and Treasury Bureau plans to introduce a bill targeting fiat-backed stablecoin issuers, focusing on reducing money laundering risks. This regulatory move will enhance investor protection and ensure market stability in Hong Kong’s burgeoning crypto sector.