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<Budget>HK to Introduce Bill This Yr to Establish Licensing Regimes for Digital Asset Service Providers, Says Paul Chan
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Regarding the development of digital assets in Hong Kong, Financial Secretary Paul Chan revealed that the government will introduce a bill this year to establish licensing regimes for, among others, digital asset dealing and custodian service providers. Meanwhile, as Hong Kong has implemented the licensing regime for issuers of fiat-referenced stablecoins, Chan noted that the first batch of licenses will be issued next month. The government and financial regulators will continue facilitating licensed issuers in the city to explore different application scenarios in a compliant and risk-controlled manner. To support the application of tokenization technology in bond issuance and transactions, Chan added that the government will provide guidelines to clarify that registers of debenture holders can be kept in the form of a distributed ledger. It will also explore the adoption of electronic signature for bond issuance documents and the digitalization of bearer bonds. AAStocks Financial News |
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