According to Wu, the Secretariat of the Legislative Council of Hong Kong recently released a "Special Bulletin" summarizing the latest developments and policy measures in financial services. The Bulletin points out that Hong Kong continues to make progress in areas such as asset management, capital market connectivity, green finance, and financial technology. Among the mentions is the "Stablecoin Ordinance Bill," which is currently under review and aims to introduce a licensing system for stablecoin issuers, providing a specific regulatory framework for the virtual asset industry. Additionally, the Legislative Council's Internal Affairs Committee has established a subcommittee to examine the application and development of Web3 and virtual asset technologies in Hong Kong and to propose recommendations for implementing relevant regulations and policies.