Source: Hong Kong Government special administrative region
Second policy statement on development of digital assets issued to scale Hong Kong to new heights of global digital asset leadership
The Policy Statement 2.0 sets out a vision for a trusted and innovative DA ecosystem that prioritises risk management and investor protection, while delivering concrete benefits to the real economy and financial markets. The latest statement introduces the “LEAP” framework, which focuses on:
The full policy statement can be seen at the Annex.
The Financial Secretary, Mr Paul Chan, said, “Digital assets hold great development potential with significance to fintech. Through the adoption of blockchain technology, more efficient financial transactions at a lower cost can be realised to bring in more inclusive financial services. The Policy Statement 2.0 sets out our vision for DA development and showcases the practical use of tokenisation through application, with a view to boosting the diversification of use cases. We strive to build a more flourishing DA ecosystem which will integrate the real economy with social life through a prudent regulatory regime and encouragement to market innovation, such that it will bring benefits to both the economy and society while consolidating Hong Kong’s leading position as an international financial centre.”
The Secretary for Financial Services and the Treasury, Mr Christopher Hui, said, “Hong Kong is uniquely positioned to bridge traditional finance with the DA era. The framework set out in the Policy Statement 2.0 helps us “LEAP” towards a trusted, sustainable and deeply integrated DA ecosystem embedded within the real economy. It also keeps Hong Kong at the forefront of digital transformation, offering a clear roadmap for businesses and investors to thrive in a secure and vibrant DA market.”
The FSTB and the SFC will be conducting public consultations on the licensing regimes for DA dealing service providers and DA custodian service providers shortly.
Issued at HKT 11:50
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