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Hong Kong advances the development of a digital asset regulatory framework
ME News, April 19 (UTC+8). According to an interview, Hong Kong SAR Government’s Under Secretary for Financial Services and the Treasury, Chan Haolien, said that the Hong Kong SAR Government will actively develop financial technology and digital assets. The stablecoin issuer regime was implemented in August last year. The authorities are now formulating legislative proposals for the licensing regime for digital asset trading and custody services, with the goal of establishing a comprehensive regulatory framework and developing Hong Kong into a global digital asset innovation hub. Chan Haolien also said that a licensed virtual insurance company in Hong Kong has expanded its business into Saudi Arabia and the United Arab Emirates, and Hong Kong’s tokenized funds have been listed on the Middle Eastern wealth management platform. In addition, Asian funds can buy Islamic bond ETFs in Hong Kong, providing Middle Eastern investors with a familiar and trustworthy market. (Source: MLion)