Hong Kong Introduces New Digital Asset Policy to Regulate Crypto Sector

Hong Kong has introduced its second digital asset policy, aiming to lead in the global crypto market. Key points include:

The Securities and Futures Commission will oversee regulation of exchanges, custodians, stablecoins, and service providers.
Public consultations for licensing will commence soon.
The government is focusing on real-world asset (RWA) tokenization, specifically for bonds and financial products.
Since 2022, Hong Kong has licensed four exchanges; from August 1, stablecoin issuers must also obtain licenses.
Plans to normalize tokenized bond issuances and support trading of tokenized ETFs aim to enhance liquidity and access.
This initiative aligns with a global trend as regions like the EU, U.K., and South Korea establish similar frameworks.