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Hong Kong Reinforces Crypto Ambitions with Policy Statement 2.0
Hong Kong Reinforces Crypto Ambitions with Policy Statement 2.0
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BTCCSquare news:
Hong Kong has unveiled its "Policy Statement 2.0," a strategic update to its 2022 digital asset framework, signaling a stronger push toward becoming a global crypto hub. The initiative introduces the LEAP framework—Licensing, Education, Application, and Protection—to streamline oversight for exchanges, stablecoin issuers, and custodians.
Tokenization of real-world assets (RWAs) takes center stage, with plans for legal clarity, infrastructure development, and public-private collaboration. Financial Secretary Paul Chan highlighted blockchain's potential to reduce costs and broaden financial inclusion. The Securities and Futures Commission (SFC) will lead licensing for digital asset services, while the FSTB and HKMA conduct legal reviews.
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