Hong Kong legislators: Hong Kong is prepared to strengthen digital asset regulation in the next 18 months

BlockBeats news, on August 11, according to Cointelegraph, Hong Kong legislator David Chiu stated that Hong Kong is preparing to strengthen its digital asset regulation in the next 18 months, marking an important step towards its mission to become a global financial technology center. David Chiu said, “The digital asset industry has made significant progress in the past few years, but Hong Kong is still in a very early stage. Hong Kong should establish a sound trading system and enact legislation related to stablecoin as soon as possible.” In addition, David Chiu revealed that sandbox testing has been launched, and the government plans to strengthen the regulation and enforcement of financial products related to digital assets within one to one and a half years. The next phase will encourage project parties to explore more innovative financial products in Hong Kong.