Source: Hong Kong Government special administrative region
FSTB and HKMA to further unlock potential of distributed ledger technology in Hong Kong’s fixed income market The FSTB and the HKMA look forward to continued collaboration with various stakeholders in the next phase of the review. In considering potential legal enhancements to further facilitate the use of DLT in the fixed income market, the FSTB and the HKMA will also take reference from, and consider the relevant implications of, the Government’s broader digitalisation initiatives.
The Secretary for Financial Services and the Treasury, Mr Christopher Hui, said, “A clear and robust regulatory framework provides a solid foundation for the sustainable development of the digital asset sector. Following the release of the Policy Statement 2.0 on the Development of Digital Assets in Hong Kong (Policy Statement 2.0) last June, this review represents another critical step forward in unlocking the full potential of DLT in our fixed income market. By providing clarifications on DLT record keeping requirements today and exploring further legislative enhancements in the next phase, we are keeping Hong Kong at the forefront of Web3 development and financial innovation.”Issued at HKT 19:45
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