Hong Kong authorities formally launched up to date laws for stablecoins and a brand new technique for bond tokenization geared toward growing the native monetary market.
The Hong Kong authorities revealed up to date guidelines for the digital asset market. In line with the doc, the licensing regime for stablecoin issuers will formally come into impact on August 1, 2025.
The Hong Kong Legislative Council authorised the regulatory framework for stablecoins in Might of this yr to encourage real-world use of stablecoins within the area.
The up to date guidelines additionally tackle the tokenization of real-world belongings (RWA) in Hong Kong. The primary focus is on establishing authorized readability, increasing the ecosystem, supporting actual functions, and growing expertise in blockchain expertise and digital belongings. Particularly, the federal government’s new plan in Hong Kong contains:
- regulation of the issuance of tokenized authorities bonds and creation of circumstances for asset buying and selling, together with clarification of taxation;
- promotion of tokenization in different sectors equivalent to valuable metals and renewable power;
- allocation of funds to help progressive blockchain initiatives by way of the Cyberport funding program;
- improvement of a crypto derivatives marketplace for skilled buyers, together with crypto ETFs and futures.
The Hong Kong authorities believes that regulated issuance of tokenized authorities bonds and governmental help for buying and selling tokenized exchange-traded funds (ETF) will foster the expansion of the secondary market and stimulate the usage of the expertise in different industries.
Market regulation can be carried out by the Securities and Futures Fee (SFC), whereas the authorized oversight of real-world asset tokenization can be dealt with by the Monetary Companies and the Treasury Bureau (FSTB) and the Hong Kong Financial Authority.
Hong Kong is actively growing its digital asset market. Authorities subsidize corporations issuing tokenized bonds, help banks in implementing distributed ledger expertise (DLT), and are testing CBDC capabilities.
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