Hong Kong Securities Regulator Plans Enhancements for Tokenized Funds

According to BlockBeats, the Hong Kong Securities and Futures Commission (SFC) is set to introduce several enhancements aimed at advancing the trading of tokenized funds on virtual asset trading platforms (VATP). Cai Fengyi, the Executive Director of the SFC's Investment Products Division, announced these upcoming measures, which include the addition of payment and settlement functions on the Hong Kong Stock Exchange's fund platform. Cai emphasized the need for more regulatory frameworks or risk prevention measures for the secondary market trading of tokenized funds. Discussions are currently underway with fund companies and relevant trading platforms to establish appropriate measures. The recent clarification that secondary market trading of tokenized funds is exempt from stamp duty is expected to facilitate progress in this area.