代币化

🇭🇰 Hong Kong will focus on promoting asset tokenization and stablecoins pegged to fiat currency

Hong Kong has new developments in the crypto field! Hong Kong Monetary Authority Director Xu Zhengyu stated that in the future, Hong Kong will focus on #代币化 and #稳定币 , making every effort to promote the development of Hong Kong's web3 ecosystem.

Reports indicate that Director Xu firmly believes that tokenization is a "decisive trend" that can bring a revolution to Hong Kong's traditional financial market and help Hong Kong stride into the web3 era.

To become Asia's cryptocurrency hub, Hong Kong is not only granting licenses to virtual asset trading platforms but also allowing compliant companies to issue tokenized investment products, enabling traders to easily acquire ownership of real-world assets by purchasing on-chain tokens.

Earlier this month, Huaxia Fund Management Company's Hong Kong branch obtained approval from the Hong Kong Securities and Futures Commission to launch a tokenized money market fund for ordinary investors, which is expected to officially go live at the end of February.

Looking back, in August 2024, the Hong Kong Monetary Authority carefully prepared and launched the "Project Ensemble Sandbox" initiative, which focuses on in-depth testing and fine-tuning the actual use of tokenized currencies in the interbank settlement process and tokenized asset trading scenarios.

Coincidentally, in March of the same year, Hongkong and Shanghai Banking Corporation actively took the lead and launched the first batch of pioneering "HSBC Gold Tokens" for local retail customers, officially marking the entry of tokenized gold products into the consumer market.

In addition, Xu Zhengyu emphasized Hong Kong's determination to develop stablecoins pegged to traditional fiat currency, which aligns with the actions of countries like the United States drafting stablecoin regulations.

To ensure the credibility and stability of stablecoins, Xu proposed a stablecoin bill in December 2024, stipulating that issuers must hold reserves equivalent to the circulating value and authorizing the Hong Kong Monetary Authority to issue licenses.

Following this, in February of this year, Hong Kong Legislative Council member Wu Zuodong urged the government to accelerate the formulation of cryptocurrency support policies to keep pace with international developments. He reminded that Hong Kong must respond quickly to avoid falling behind in the global cryptocurrency race.

💬 What are your views on Hong Kong's development of tokenization and stablecoins? What impact will it have on the global cryptocurrency market?

Paolo Ardoino, CEO of Tether, announced on the X platform that they will soon open Tether's tokenization platform to everyone. It is reported that the platform is non-custodial, supports multiple chains and multiple asset types, and provides highly personalized options.
#代币化

Overview of Important Developments on December 28

Keywords: #defi , #特朗普 , #代币化

1. The U.S. crypto industry calls on Congress to prevent new regulations targeting DeFi brokers;

2. The U.S. NIST proposes to expand the AES encryption standard to address security threats posed by future quantum computing;

3. U.S. Treasury Secretary Yellen sends a letter to congressional leaders urging resolution of the debt ceiling issue;

4. The U.S. IRS requires "DeFi brokers" to collect user transaction information to strengthen regulatory oversight;

5. Trump requests the U.S. Supreme Court to suspend the enforcement of the TikTok forced sale order;

6. The U.S. Treasury and IRS finalize tax reporting requirements for specific cryptocurrency brokers and officially release the final regulations;

7. Bloomberg reports that tokenization is becoming a new focus on Wall Street, with this wave primarily concentrating on the digital transformation of financial assets.

These developments indicate that regulatory policies and technological innovation are driving the growth of the crypto industry on dual fronts, and investors need to pay attention to potential impacts.