Group 1 - The core viewpoint of the article highlights the rise in stablecoin-related stocks following the announcement of stablecoin license applications in Hong Kong [1] - As of the end of September this year, Hong Kong's Financial Secretary has received 36 stablecoin license applications from various sectors, with some licenses expected to be issued early next year [1] - The Financial Secretary emphasized that the measures aim to protect investors and establish a clear compliance path to reduce potential trading conflicts and disputes [1] Group 2 - The licensing system for virtual asset trading and custody service providers is being developed in collaboration with the Hong Kong Securities and Futures Commission, with plans to submit the regulatory framework for legislative review next year [1] - The regulatory framework will cover key aspects of the virtual asset industry, aiming to balance risk management and innovation [1]