Caixin: Hong Kong tokenization ETF will enjoy stamp duty exemption

On June 26, according to Caixin, the Hong Kong Financial Services and the Treasury Bureau today issued the "Hong Kong Digital Asset Development Policy Declaration 2.0", which points out that the Hong Kong government will strengthen efforts to expand tokenization schemes, promoting a broader tokenization of assets and financial instruments, demonstrating the technology's diverse applications in various sectors, including precious metals (such as gold), non-ferrous metals, and renewable energy such as solar panels. Currently, all ETFs listed on the Hong Kong Stock Exchange are exempt from stamp duty during transfers. To promote the development of the tokenization market, the Hong Kong government will clarify that the exemption from stamp duty also applies to tokenized ETFs, which essentially clarifies the stamp duty situation for tokenized ETFs after they are allowed to trade in the secondary market in the future. The "Policy Declaration 2.0" has also made it clear that market participants are welcome to explore the advantages of tokenizing ETFs, including introducing them for secondary market trading on licensed digital asset trading platforms or other platforms.