Hong Kong Shaping the Leadership of a New Digital Financial Era
On June 26, the Hong Kong government announced its 2.0 digital asset development policy statement, marking a clear step in the city's cryptocurrency development strategy. This is an important update from the 2022 plan, affirming the determination to make Hong Kong a world-leading cryptocurrency and Tokenize center. The new management system is built on three main pillars: strict legal regulations, innovation, and practical application promotion.
LEAP Strategic Framework – Foundation for Sustainable Cryptocurrency Growth
The policy's focus is the LEAP framework, an acronym for Legal clarity, Expanding tokenised products, Advancing use cases, and People development. This is a comprehensive strategy aimed at balancing technological breakthrough and investor protection. The Hong Kong Securities and Futures Commission (SFC) will be responsible for licensing exchanges, stablecoin issuers, and custodian organizations. Meanwhile, the Monetary Authority will remove legal barriers to asset Tokenization, including bonds and ETF funds.
Tokenization – New Focus in Digital Asset Development Policy
The Hong Kong government is promoting regular issuance of Tokenized government bonds, along with encouraging Tokenization of assets such as gold, precious metals, and renewable energy products. The plan allows secondary trading of Tokenized ETF funds on licensed platforms, helping to create a more dynamic, efficient, and transparent cryptocurrency market.
Promoting Practical Applications with Upcoming Stablecoin Licensing Framework
The stablecoin licensing policy is expected to launch from August 1, aimed at expanding cryptocurrency adoption in real life. Authorities are actively collaborating with stakeholders from various industries, while providing financial support through Cyberport to accelerate large-impact blockchain projects. This not only demonstrates the potential for cryptocurrency integration into the real economy but also creates momentum for sustainable digital ecosystem development.
Global Cryptocurrency Knowledge Center
Hong Kong aims to build a world-leading cryptocurrency expertise center, developing human resources through collaboration between educational institutions and industry. Simultaneously, the city also aims to become a hub for international cooperation and digital financial 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: it is not only ready to support but also wants to lead the digital asset revolution in the future.
