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The Government of the Hong Kong Special Administrative Region of China today (October 31) issues a policy statement on the development of Virtual Assets (VA) in Hong Kong. The statement sets out the Government's policy stance and approach towards developing a vibrant sector and ecosystem for VA in Hong Kong. The policy statement said that as an international financial centre, Hong Kong is open and inclusive towards the global community of innovators engaging in VA businesses. The Government, in conjunction with the financial regulators, are working towards providing a facilitating environment for promoting sustainable and responsible development of the VA sector in Hong Kong. The Securities and Futures Commission will be conducting a public consultation on how retail investors may be given a suitable degree of access to VA, and Hong Kong will be open to the possibility of having Exchange Traded Funds (ETFs) on VA in our market. The Government is open to future review on property rights for tokenised assets and the legality of smart contracts, so as to facilitate their development in Hong Kong. Consultation outcome and next steps will be announced in due course by the Hong Kong Monetary Authority on the regulatory regime for stablecoins. The Government and the regulators are exploring a number of pilot projects to test the technological benefits brought by VA and their further applications in the financial markets. These projects include non-fungible token (NFT) issuance for Hong Kong Fintech Week 2022, Green bond tokenisation, and e-HKD.

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【Hong Kong issues a policy statement on the development of Virtual Assets】The Government of the Hong Kong Special Administrative Region of China today (October 31) issues a policy statement on the development of Virtual Assets (VA) in Hong Kong. The statement sets out the Government's policy stance and approach towards developing a vibrant sector and ecosystem for VA in Hong Kong. The policy statement said that as an international financial centre, Hong Kong is open and inclusive towards the global community of innovators engaging in VA businesses. The Government, in conjunction with the financial regulators, are working towards providing a facilitating environment for promoting sustainable and responsible development of the VA sector in Hong Kong. The Securities and Futures Commission will be conducting a public consultation on how retail investors may be given a suitable degree of access to VA, and Hong Kong will be open to the possibility of having Exchange Traded Funds (ETFs) on VA in our market. The Government is open to future review on property rights for tokenised assets and the legality of smart contracts, so as to facilitate their development in Hong Kong. Consultation outcome and next steps will be announced in due course by the Hong Kong Monetary Authority on the regulatory regime for stablecoins. The Government and the regulators are exploring a number of pilot projects to test the technological benefits brought by VA and their further applications in the financial markets. These projects include non-fungible token (NFT) issuance for Hong Kong Fintech Week 2022, Green bond tokenisation, and e-HKD.

Hong Kong issues a policy statement on the development of Virtual Assets

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