Hong Kong’s Financial Secretary Paul Chan outlined plans for a second digital asset innovation push in a blog post over the weekend. After the first policy statement in 2022 formalized its approach to cryptocurrencies, it is planning to announce its future strategy soon. It sounds like the focus could be on digital securities and tokenized trade.
He said Hong Kong’s next steps would “combine the advantages of traditional financial services with technological innovation in the field of digital assets, improving the security and flexibility of digital assets in real economic activities.” Additionally, it plans to support innovation by local and international firms.
Given that the stablecoin sandbox resulted in stablecoin regulation, there’s a good chance the plans relate to another sandbox, Project Ensemble.
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