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Hong Kong’s authorities released its 2nd large argumentation connection connected integer assets, underlining its pledge to acceptable the portion up arsenic a planetary hub for the manufacture and saying it plans to found a regulatory authorities that puts hazard absorption and capitalist extortion halfway stage.
The model volition beryllium overseen by the Securities and Futures Commission and use to custodians, integer plus work providers, exchanges and stablecoins, the authorities said Thursday. Public consultations connected the licensing regimes volition commencement shortly, it said.
Hong Kong has been making moves successful caller years to fortify its presumption successful the industry, and the connection builds connected an earlier pronouncement from 2022, erstwhile it said it was "ready to engage" with participants. In December, it granted licenses to 4 crypto exchanges, and past period passed a instrumentality allowing it to license stablecoin issuers from Aug. 1.
The Financial Services and the Treasury Bureau (FSTB) and the Hong Kong Monetary Authority volition besides reappraisal the ineligible authorities connected the tokenization of real-world assets (RWAs) and fiscal instruments, the authorities said. The reappraisal volition look astatine tokenized enslaved issuances and transactions. The authorities is peculiarly looking astatine the applicable usage of tokenization positive however to diversify usage cases, Financial Secretary Paul Chan said successful the statement.
Worldwide, RWA tokenization has grown by 380% successful conscionable 3 years and reached $24 cardinal this month, according to a first-half 2025 study from RedStone, Gauntlet and RWA.xyz.
"The Government volition regularise the issuance of tokenised Government bonds and incentivise the tokenisation of RWAs to heighten liquidity and accessibility through, among different initiatives, clarifying the stamp work attraction for tokenised speech traded funds (ETFs)," the authorities said. It besides welcomes secondary marketplace trading of these tokenized ETFs connected licensed trading platforms.
Nations crossed the globe similar the U.K., U.S., South Korea and Pakistan are establishing their regimes for crypto companies arsenic involvement successful the assemblage continues to grow. The European Union's rules for the industry, the Markets successful Crypto Assets (MiCA) legislation, were published successful 2023 and took effect past year.
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