Hong Kong Sets Out Plan to Regulate Crypto, Encourage Tokenization
Hong Kong’s government released its second major policy statement on digital assets, underlining its pledge to set the region up as a global hub for the industry and saying it plans to establish a regulatory regime that puts risk management and investor protection center stage.
The framework will be overseen by the Securities and Futures Commission and apply to custodians, digital asset service providers, exchanges and stablecoins, the government said Thursday. Public consultations on the licensing regimes will start shortly, it said.
Hong Kong has been making moves in recent years to strengthen its position in the industry, and the statement builds on an earlier pronouncement from 2022, when it said it was “ready to engage” with…
