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Hong Kong Financial Secretary: Approving Eight Virtual Asset Trading Platform Licenses to Embrace Digital Asset Development
Summary: According to reports, Hong Kong Financial Secretary Paul Chan stated during a forum on June 21 that there is a strong interest in digital assets in the market, especially in the issuance of stablecoins. As an international financial center, Hong Kong must continuously reform and innovate to enhance our competitive advantage. We are embracing the ...
According to reports, Hong Kong Financial Secretary Paul Chan stated during a forum on June 21 that there is a strong interest in digital assets in the market, especially in the issuance of stablecoins. As an international financial center, Hong Kong must continuously reform and innovate to enhance our competitive advantage. We are embracing the development of digital assets and have accelerated the improvement of relevant legal regulatory frameworks in recent years. For example, the licensing system for virtual asset trading platforms has issued 10 licenses and is currently reviewing eight additional applications. We have also just completed the legislation for stablecoins, which will come into effect on August 1, making Hong Kong one of the first jurisdictions globally to establish a legal regulatory framework for stablecoins.
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Link: Hong Kong Financial Secretary: Approving Eight Virtual Asset Trading Platform Licenses to Embrace Digital Asset Development [Copy]
