More initiatives are in the works, said the Secretary for Financial Services and the Treasury Bureau, Christopher Hui, as Hong Kong becomes the crucible for testing the best global technological solutions for real-world problems.
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Hong Kong charts new phase as digital asset hub with policy blueprint, says FSTB chief Chris Hui
Hong Kong charts new phase as digital asset hub with policy blueprint, says FSTB chief Chris Hui
“Finance serves the purpose of easing the smooth operation of the real economy, the value chain, the movement of goods and services, and the transfer of assets and products,” Hui said last week during an interview with the Post. “I would try to cast our sights even further: it is about Hong Kong [as] a value creator [and] a solution provider for some real economic issues and challenges in the region and across the world.”
Based on the principle that similar rules should apply to similar risks, his bureau has formulated regulations for four “blocks” of digital assets: exchanges, stablecoin issuers, dealing service providers and custodians. The latter two are now part of the legislative proposals in consultation, which is expected to close at the end of next month to address investors’ needs for sourcing liquidity, block trading and asset safekeeping.
