Financial officials said today at the Hong Kong Fintech Week that regulators may soon issue circulars on tokenization to ensure customer protection.
Hong Kong is expected to issue more policy papers and circulars on tokenized assets, stablecoins and cryptocurrency trading, as the city continues efforts to create a web3 hub in Asia.
Hui added that the Securities and Futures Commission will soon release circulars on intermediaries engaging in tokenized securities-related activities and tokenization of SFC-authorized investment products. “In fact, we, ourselves, assisted the government to issue the world's first-ever tokenized government green bond earlier this year in order to demonstrate the compatibility of Hong Kong's legal and regulatory environment with this very new issuance format,” Yue said.
One circular will be on “identifying the risks with this new technology” and “what regulators expect from intermediaries when they are doing the due diligence, doing their transfer or primary issuance of it,” Leung said.
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