The Hong Kong Treasury and the HKMA jointly issued a consultation summary on the legislative proposals to implement a regulatory regime for fiat stablecoin issuers in Hong Kong. During the consultation period, 108 submissions were received from market participants, industry organisations, chambers of commerce and professional bodies, as well as other stakeholders. With the increasing popularity and continued development of virtual assets, the vast majority of respondents agreed on the need to introduce a regulatory regime for fiat stablecoin issuers to properly manage potential monetary and financial stability risks, and to provide transparency and appropriate regulations. (CCTV)