Hong Kong Financial Secretary: 'Second Virtual Asset Policy Announcement Expected Within This Year'
Summary
- Hong Kong plans to announce its second virtual asset policy within this year to establish itself as a virtual asset hub.
- Financial Secretary Paul Chan stated they will explore ways to enhance security in real economic activities while promoting virtual asset technological innovation.
- The Hong Kong government announced plans to establish over-the-counter trading, custody service licensing system, and stablecoin regulations.
Hong Kong, an Asian financial powerhouse, is set to lay the groundwork for becoming a virtual asset (cryptocurrency) hub.
According to the Hong Kong Economic Times on the 26th, Hong Kong Financial Secretary Paul Chan announced that "a second policy statement on virtual asset development will be released soon, exploring ways to combine the advantages of existing financial services with technological innovation in the virtual asset sector, while enhancing security and flexibility in real economic activities." Chan further added that they "will encourage domestic and international companies to explore innovation and applications in virtual asset technology."
Specifically, the Hong Kong government plans to establish ▲over-the-counter trading of virtual assets, ▲custody service licensing system, and ▲stablecoin regulations within this year.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
