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Caixin: Hong Kong Tokenized ETFs to Enjoy Stamp Duty Exemption
Summary: According to Caixin, the Hong Kong Financial Services and the Treasury Bureau released the "Hong Kong Digital Asset Development Policy Manifesto 2.0" today, stating that the government will intensify efforts to expand tokenization schemes, promote a wider range of asset and financial instrument tokenization, and demonstrate the technology's diverse applications in various sectors, including precious ...
According to Caixin, the Hong Kong Financial Services and the Treasury Bureau released the "Hong Kong Digital Asset Development Policy Manifesto 2.0" today, stating that the government will intensify efforts to expand tokenization schemes, promote a wider range of asset and financial instrument tokenization, and demonstrate the technology's diverse applications in various sectors, including precious metals (such as gold), base metals, and renewable energy sources like solar panels.
Currently, all exchange-traded funds (ETFs) listed on the Hong Kong Stock Exchange are exempt from stamp duty when transferred. To promote the development of tokenization markets, the Hong Kong government will clarify that the stamp duty exemption measures also apply to tokenized ETFs, effectively addressing the stamp duty situation after tokenized ETFs are allowed to trade on the secondary market. The "Manifesto 2.0" also explicitly welcomes market participants to explore the advantages of tokenizing ETFs, including introducing them for secondary market trading on licensed digital asset trading platforms or other platforms. (Caixin)
