🔺Hong Kong has taken another step towards leadership in Web3 by releasing "Policy Statement 2.0", a strategic plan that enhances the regulation of stablecoins and promotes the tokenization of real-world assets (RWAs). Starting from August 1, 2025, issuers of fiat-backed stablecoins will need to obtain an official license from the Hong Kong Monetary Authority, and the Securities and Futures Commission will oversee the custody and trading of these assets. In addition, the government aims to tokenize assets such as government bonds, exchange-traded funds, precious metals, and carbon credits, and to expand the use of blockchain technology in traditional finance.
The LEAP program also encourages partnerships between the government, banks, fintech companies, and startups to enhance the ecosystem. With this regulatory package, Hong Kong distinguishes itself from competitors like Singapore and Dubai by combining legal clarity with innovation encouragement, positioning it to lead the digital financial infrastructure in Asia.
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