In its second policy statement on the subject, the government said it intends to take further steps to regulate digital asset service providers, exchanges and stablecoins.
What to know:
- Hong Kong’s government released its second major policy statement on digital assets.
- It said it wants to establish a regulatory framework focusing on risk management and investor protection as it strives to become a global hub for the industry.
- The Securities and Futures Commission will oversee the regulation of custodians, digital asset service providers, exchanges and stablecoins, with public consultations on licensing regimes starting soon.
Hong Kong’s government released its second major policy statement on digital assets, underlining its pledge to set the region up as a global hub for the industry and saying it plans to establish a regulatory regime that puts risk management and investor protection center stage.
The framework will be overseen by the Securities and Futures Commission and apply to custodians, digital asset service providers, exchanges and stablecoins, the government said Thursday. Public consultations on the licensing regimes will start shortly, it said.
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