Hong Kong's Deputy Secretary for Financial Services and the Treasury, Chen Haolian, said that as an international financial center, Hong Kong has strong Web3 development potential and a sound regulatory system, and key technologies such as global blockchain ecosystem evolution and decentralized oracle network have great potential to promote the transformation of decentralized finance and digital economy. Therefore, it is hoped that Asia, especially Hong Kong, will gain a deeper understanding of ...
The Deputy Secretary for Financial Services and the Treasury of Hong Kong, Mr. Albert Chan, said that the second round of public consultation on the regulation of virtual assets over the counter (OTC) will be completed next year, and the proposed licensing system for regulating virtual asset custody service providers will also be proposed for consultation next year to ensure that the safe custody of digital assets meets international standards. Chen Haolian stressed that the licensing system for...
Hong Kong's Deputy Secretary for Financial Services and the Treasury, Chen Hao Lian, called on investors to participate in the trading of virtual currencies through licensed exchanges. Chen Hao Lian said that the Hong Kong government is working hard to build the entire ecosystem. At present, Invest Hong Kong is actively promoting relevant enterprises to expand their business in Hong Kong. The ecosystem of virtual assets is not only exchanges, but also virtual asset exchange traded funds, as well...
The Hong Kong Financial Services and the Treasury Bureau and the Hong Kong Monetary Authority Deputy Secretary Chen Haolian reiterated at the event that necessary preparations are being made for the legislation on the regulatory regime for fiat currency stablecoin issuers, with the goal of submitting the draft legislation to the Legislative Council by the end of this year. The Hong Kong government is committed to the development of virtual assets and the third-generation Internet (Web 3...
On July 19, Hong Kong Deputy Secretary for Financial Services and the Treasury Chen Haolian said at the meeting of the Legislative Council Web3 and the Subcommittee on Virtual Asset Development that the authorities are currently drafting the second draft of the bill to implement the regulatory system for fiat currency stablecoin issuers in Hong Kong, with a view to submitting the bill to the Legislative Council for consideration by the end of this year.