According to Techub News, in an interview with Wen Wei Po, the Financial Secretary of the Hong Kong SAR Government, Paul Chan, stated that Hong Kong is further building a full-chain ecosystem for the development of digital assets through four major strategies: optimizing laws and regulations, expanding product types, promoting cooperation in application scenarios, and nurturing talent and development. He emphasized that digital assets are not only a breakthrough for fintech but also a key lever for consolidating Hong Kong’s status as an international financial center.
Chen Maobo stated that Hong Kong will advance the integration of virtual assets with the real economy through a dual approach of licensing management and scenario-based applications. “Regulating stablecoins is a priority; we require their applications to be tied to real scenarios such as trade settlement and cross-border payments, to eliminate speculation and hype.” Currently, Hong Kong has legislated to regulate the issuance of stablecoins, while the Hong Kong Securities and Futures Commission has also been licensing virtual asset exchanges and promoting the regulation of custody. At the same time, Hong Kong is providing the industry with an innovative testing space through “sandbox regulation.”
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