The Hong Kong Special Administrative Region Government's release of the 'Hong Kong Digital Asset Development Policy Declaration 2.0' showcases its strategic vision to build a globally leading digital asset center, with the core aim of establishing a trustworthy, sustainable digital asset ecosystem deeply integrated with the real economy through the 'LEAP' framework (Legal and Regulatory Optimization, Tokenized Product Expansion, Application Scenario Promotion, Talent and Partner Development).

I have the following observations:

1. Clearly uses the term 'digital assets' (replacing 'virtual assets') to align with international standards, emphasizing its innovative leadership as an international financial center in the digital age.

2. The goal is very clear: to balance innovation with risk management, attract high-quality global institutions; and enhance financial market efficiency through technologies like tokenization to serve the real economy.

3. Responsibilities are clearly defined, with the Securities and Futures Commission leading the issuance of licenses for digital asset trading and custody services, while the Monetary Authority regulates banking-related activities to avoid functional overlaps.

4. The government has demonstrated its friendliness and recognition of digital assets, and will submit legislative proposals to include digital assets in private placement funds and family investment control tools that qualify for profits tax exemptions. Additionally, the SAR government will actively promote the regularization of tokenized government bond issuance.

5. Realistically reducing operational costs for the industry and striving to enhance market liquidity, the government will clarify how the stamp duty exemption measures for ETF transfers will also apply to tokenized ETFs, which will have a profound impact on the digital asset industry.

6. Substantial cash support to improve the market ecosystem, Cyberport will launch a blockchain and digital asset pilot funding scheme, which not only can attract more talent to join the industry but also enhance the overall project pool in Hong Kong.

In summary, Hong Kong has a great opportunity to become a benchmark for compliant innovation in digital assets in Asia within 3-5 years, providing a 'Hong Kong solution' for the integration of global traditional finance and the digital economy.