Wu Jie, market maker: Hong Kong's regulatory policies regarding digital asset trading and accomplice service providers are currently under public consultation, and legislative details will be finalized as soon as possible.

Techub News, Hong Kong Legislative Council member Wu Jiezhuang said at the inauguration ceremony of the Hong Kong Federation of Digital Policy Listed Companies that Hong Kong is establishing a unified and comprehensive regulatory system for digital asset service providers, including trading platforms, stablecoin issuers, trading service providers and custodian service providers. Among them, the legislative work on the issuance of stablecoins on trading platforms has been completed, and the “Stablecoin Regulations” has officially entered into force on August 1 this year, setting a regulatory regime with legal effect for stablecoin issuers and licensing regimes. Public consultation is underway on policies and regulations for digital asset trading service providers and custodian service providers, and the details of the legislation will be finalized as soon as possible.

Wu Jie also stated that he is optimistic about the future development space of Hong Kong’s digital currency market. Currently, there are 8 licensed digital banks, 4 licensed virtual insurance companies, and 11 licensed virtual asset exchanges providing diversified services for Hong Kong, Asia, and globally. In addition, the policies applicable to all virtual asset ETFs listed in Hong Kong also apply to tokenized ETFs, which can further attract investors to participate. At the same time, Cyberport has launched a blockchain and digital asset pilot program to support some potential projects with funding of up to HKD 500,000, aiding in their concept validation and project implementation. The Hong Kong SAR government also supports the development of digital asset infrastructure, including regulation and cybersecurity, and will enhance collaboration with technology providers, regulatory bodies, and law enforcement to launch solutions that meet Hong Kong’s needs, ensuring the healthy development of assets.