the Chief Executive of the Hong Kong Monetary Authority (HKMA), Eddie Yue, stated that stablecoins have broad connections with mainstream financial systems and daily commercial activities, and introducing regulations can help maintain financial stability and promote orderly and sustainable development of the industry. Virtual assets have entered the mainstream investor's field of vision, and the Hong Kong government and regulatory agencies are accelerating the introduction and improvement of relevant regulatory mechanisms. The HKMA has already released a "Discussion Paper on Cryptocurrencies and Stablecoins" earlier this year, and based on industry feedback, it is now including stablecoin-related commercial activities in its regulatory framework. Regulation and market development are complementary and mutually reinforcing. The virtual asset industry has experienced crises due to insufficient self-regulation and misuse of customer assets, but it has now attracted the attention of mainstream investors. Therefore, the Hong Kong government and regulatory agencies are accelerating the introduction and improvement of relevant regulatory mechanisms. The Securities and Futures Commission of Hong Kong can regulate virtual asset trading platforms through this system, and the platforms also need to comply with rules such as anti-money laundering and counter-terrorism financing. Banks can cooperate with licensed platforms to provide more distribution channels for investment and financial products.