The Hong Kong SAR Government's (Digital Asset Development Policy Declaration 2.0) is Officially Launched, Aiming for the Global Digital Asset Center Position! This Ambitious Blueprint Centers on the 'LEAP' Framework, Introducing Four Key Strategies to Inject Strong Momentum into the Digital Asset Market, Marking a Decisive Step for Hong Kong on the Path of Integrating Innovation and Regulation.

(Digital Asset Development Policy Declaration 2.0): https://sc.isd.gov.hk/TuniS//www.info.gov.hk/gia/general/202506/26/P2025062500847.htm?fontSize=1

Core Breakthrough: Four Strategies Reshaping the Financial Landscape

Regulatory Restructuring (L): Unified Framework, Clear Rules

• Unified Licensing System: The Securities and Futures Commission Will Lead the Licensing Regulation of Digital Asset Trading Service Providers and Custodians, Ending Regulatory Arbitrage. The Monetary Authority Will Keep a Close Eye on Bank-Related Activities, Forming a Regulatory Synergy.

• Legal Review: The Treasury and Financial Services Bureau and the Monetary Authority Jointly Launch the 'Tokenization Legal and Regulatory Review', Targeting the Process Bottlenecks of Tokenization for Assets like Bonds (Settlement, Registration, etc.), Paving the Way for RWA (Real World Assets) Tokenization.

2. Product Expansion (E): The Explosion of Tokenized Assets

• Normalization of Government Bonds: Hong Kong Will Make the Issuance of Tokenized Government Bonds (Successfully Issued HKD 6.8 Billion) a Regular Operation, Exploring Multiple Currencies, Multiple Terms, and Innovative Structures to Create a Global Benchmark.

• Major Incentives for Asset Tokenization:

1) Clear Tax Exemption: Tokenized Exchange-Traded Funds (ETFs) Will Enjoy Stamp Duty Exemptions Equivalent to Traditional ETFs, Eliminating Key Tax Barriers and Encouraging Tokenization of Money Market Funds and Other Products for Secondary Market Trading.

2) Tax Incentives: Legislative Plans to Include Specific Digital Assets in the Profits Tax Exemption Scope for Private Funds and Family Offices (Starting from the 2025/26 Tax Year).

3) Diversification of Applications: Promoting the Tokenization of Real Assets such as Precious Metals (Gold), Non-Ferrous Metals, and Renewable Energy (Solar Panels), Connecting Global Storage Networks (e.g., London Metal Exchange Hong Kong Warehouse).

3. Scene Implementation (A): Stablecoins Leading, Infrastructure Collaboration

• The Era of Stablecoins Begins: On August 1, 2025, the Stablecoin Issuer Regulatory System Will Officially Implement! Focusing on Reserve Management, Stability Mechanisms, and Redemption Guarantees, Providing Reliable Tools for Payments, Trade Settlements, and Other Scenarios. The Government Also Invites All Sectors to Propose Solutions for Using Stablecoins!

• Infrastructure and Collaboration:

1) Cyberport Launches the 'Blockchain and Digital Asset Pilot Grant Scheme', Providing Significant Support for Innovative Projects.

2) The Monetary Authority Promotes the 'Ensemble Project', Exploring Interbank Tokenized Deposit Settlements to Enhance Liquidity.

3) Strengthen Collaboration among Regulatory Agencies, Law Enforcement, and Technology Providers to Develop Key Infrastructures such as Regulatory Technology and Cybersecurity.

4. Talent Ecosystem (P): Nurturing Talent and Intelligence, Global Collaboration

• Collaborate with Universities and Industry, Focusing on Blockchain, AI, and Digital Asset Innovation, to Cultivate and Attract Top Talent (Fintech Professionals Have Been Included in Hong Kong's Talent List).

• Build an International Knowledge Sharing Center to Promote Cross-Border Regulatory Cooperation (Memorandums of Understanding, etc.) and Joint Research (Blockchain Applications, Tokenization Frameworks, etc.).

Hong Kong's Ambition: Beyond the Virtual, Deeply Integrating with the Real Economy

(Declaration 2.0) Clearly Communicating Hong Kong's Differentiated Strategy: Not Encouraging Speculation, but Driving Upgrades in the Real Economy and Financial Markets through Technological Innovation. From tens of billions in tokenized green bonds to explorations of RWA in gold, non-ferrous metals, and renewable energy, Hong Kong is committed to allowing blockchain technology to penetrate the virtual bubble, creating efficiency, transparency, and liquidity in the real world.

“With the Joint Efforts of Regulatory Agencies, Industry, and Society, We Will Build a Future That Integrates Innovation, Confidence, and Opportunity, Leading Hong Kong to a New Frontier in Global Digital Assets.” — Hong Kong Financial Services and the Treasury Bureau

A New Era of Digital Assets in Hong Kong Has Begun. Under the LEAP framework, the certainty of regulation, diversity of products, practicality of applications, and the gathering of talent are working together to push Hong Kong to the pinnacle of the global digital asset wave — a new financial paradigm that truly connects the virtual with the physical, innovation with security.