Edward Yau: Hong Kong is implementing a Stablecoin Issuer Regime

BlockBeats News, September 17th: Carrie Lam, Chief Executive of the Hong Kong Special Administrative Region, stated in her fourth policy address during her term that the Hong Kong Monetary Authority will promote commercial banks to launch tokenized deposits and facilitate real asset tokenization trading. For example, using tokenized deposits to settle tokenized money market funds, assisting the government in standardizing the issuance of tokenized bonds, and encouraging banks to enhance risk management through a regulatory sandbox.

Carrie Lam mentioned that Hong Kong is implementing the stablecoin issuer regime and is formulating legislative proposals for the licensing regime for digital asset trading and custody services. The Securities and Futures Commission of Hong Kong is studying the expansion of the types of digital asset products and services available to professional investors while ensuring full investor protection. Additionally, efforts are being made to enhance international tax cooperation and combat cross-border tax evasion. (Fx678)