Hong Kong Shapes the Mission to Lead the New Digital Finance Era
On June 26, the Hong Kong government announced the 2.0 policy declaration on digital asset development, marking a clear step forward in the city's cryptocurrency development strategy. This is an important update from the 2022 plan, affirming the determination to turn Hong Kong into a leading global cryptocurrency and tokenization hub. The new management system is built on three main pillars: strict legal regulations, innovation, and promoting practical applications.
LEAP Strategic Framework – Foundation for Sustainable Cryptocurrency Growth
The focus of the policy is the LEAP framework, which stands for Legal clarity, Expanding tokenized products, Advancing use cases, and People development. This is a comprehensive strategy aimed at balancing technological breakthroughs and investor protection. The Hong Kong Securities and Futures Commission (SFC) will be responsible for licensing exchanges, stablecoin issuers, and custodians. Meanwhile, the Monetary Authority will remove legal barriers to the tokenization of real assets, including bonds and ETFs.
Tokenization – A New Focus in Digital Asset Development Policy
The Hong Kong government promotes the regular issuance of tokenized government bonds, along with encouraging the tokenization of assets such as gold, precious metals, and renewable energy products. The plan allows for secondary trading of tokenized ETFs on licensed platforms, helping to create a more vibrant, efficient, and transparent cryptocurrency market than ever before.
Promoting Practical Applications with the Upcoming Stablecoin Licensing Framework
The stablecoin licensing policy is expected to be launched on August 1, aiming to expand the adoption of cryptocurrencies in real life. Authorities are actively coordinating with stakeholders from various industries while providing financial support through Cyberport to promote impactful blockchain projects. This not only demonstrates the ability to integrate cryptocurrencies into the real economy but also creates momentum for the sustainable development of the digital ecosystem.
Global Electronic Money Knowledge Center
Hong Kong aims to build itself into a world-class cryptocurrency expertise center, developing human resources through cooperation between educational institutions and industry. Meanwhile, the city also aims to become a hub for international cooperation and digital finance research, contributing to the overall development of the global blockchain economy.
With a clear vision, transparent legal framework, and strong government support, Hong Kong sends a consistent message to the global cryptocurrency community: this place is not only ready to support but also wants to lead the digital asset revolution in the future.
Source: https://tintucbitcoin.com/luat-tien-dien-tu-hong-kong-1-8/
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