Hong Kong Unveils Updated Digital Asset Development Policy

According to PANews, the Hong Kong Special Administrative Region Government released the "Hong Kong Digital Asset Development Policy Declaration 2.0" on June 26, reaffirming its commitment to establishing Hong Kong as a global innovation hub in the digital asset sector. This new policy declaration builds upon initiatives outlined in the initial declaration from October 2022. Financial Secretary Paul Chan highlighted that "Policy Declaration 2.0" reflects the government's vision for digital asset development and demonstrates the practical application of tokenization, aiming to diversify application scenarios. By combining prudent regulation with market innovation encouragement, Hong Kong seeks to create a vibrant digital asset ecosystem integrated with the real economy and social life, benefiting both the economy and society. This approach also aims to strengthen Hong Kong's position as a leading international financial center.