Hong Kong announces the "Digital Asset Development Policy Declaration 2.0": Moving towards a global encryption center and heading towards openness.

The Hong Kong government issued the Hong Kong Digital Asset Development Policy Declaration 2.0 to promote legal supervision, tokenized products, application scenarios and talent cooperation under the "LEAP" framework, and strive to build Hong Kong into a global digital asset center. (Synopsis: Animoca Brands, Standard Chartered Bank and HKT join hands to prepare for the issuance of Hong Kong dollar stablecoin, aiming for cross-border payments) (Background supplement: Full interpretation of Hong Kong's Stablecoin Ordinance: from definition, regulatory framework, eligibility to market impact) The Hong Kong government today (26) announced the "Hong Kong Digital Asset Development Policy Declaration 2.0", through the four "LEAP" strategies, declaring to build Hong Kong into an open and trusted global crypto hub. The new declaration builds on the first edition in 2022 to deepen regulation and innovation, and introduces new momentum to the financial market through normalized tokenized government bonds, stablecoin licenses and cross-border pilots. Policy Upgrades Strengthen Supervision The "L" stands for Optimizing Law and Regulation. The Declaration proposes to establish a unified and comprehensive framework for digital asset service providers, covering trading platforms, stablecoin issuers, custody and other trading services. The SFC will act as the lead issuer, with the FSTB and HKMA reviewing legislation in tandem to promote real-world asset (RWA) and bond tokenisation, in line with the latest guidance from the International Organization of Securities Commissions (IOSCO) and the Financial Stability Board. Tokenized products move toward normalcy "E" focuses on expanding tokenized products. The government plans to turn the issuance of tokenized government bonds from experimental to routine, clarify the stamp duty arrangements for tokenized ETFs, and cooperate with licensed digital asset platforms for secondary market transactions. The authorities are also encouraging the market to convert multiple assets such as gold, non-ferrous metals, renewable energy or income rights from electric vehicle charging stations into tokens, demonstrating that blockchain can reduce settlement costs and increase transparency. Application scenarios and cross-border cooperation "A" and "P" focus on application scenarios and talent cooperation respectively. The stablecoin issuer license will be on the road on August 1, 2025, and the government welcomes proposals from licensees for public or commercial applications. Cyberport will launch a pilot funding scheme for blockchain and digital assets to support projects with market impact. At the same time, Hong Kong will work with academia and international partners to nurture entrepreneurs, researchers and technologists to inject manpower into the value chain. Financial Secretary Paul Chan pointed out in a government press release: "Digital assets are an important part of fintech. The Declaration demonstrates our support for innovation, combined with robust regulation, to connect the digital asset ecosystem to the real economy." The Secretary for the FST, Hui Chengyu, added, "The new framework puts Hong Kong at the forefront of digital transformation and provides a clear roadmap for businesses and investors." The FSTB and the SFC will launch a public consultation on the trading and custody licensing mechanism, the details of which will be announced soon. Through the "LEAP" framework, Hong Kong aims to further strengthen its position as an international financial centre by promoting innovation while ensuring that risks are managed. The Hong Kong Digital Asset Development Policy Declaration 2.0 marks Hong Kong's accelerated embrace of blockchain and cryptocurrencies, providing a new gateway for global players to enter the Asian market and injecting more vitality into the local financial system. Related reports Stablecoin "Sino-US route dispute": Hong Kong's B-side breakthrough and the mainstream Yang conspiracy in the United States How does a comparative analysis of the Hong Kong and US stablecoin laws affect the global Web3 ecosystem? You can buy funds with stablecoins! Hong Kong Victory Securities Establishes "Victory VSG" Virtual Asset Multi-Strategy Fund (Hong Kong Announces "Digital Asset Development Policy Declaration 2.0": Towards a Global Crypto Center, Towards Openness" This article was first published in BlockTempo's "Dynamic Trend - The Most Influential Blockchain News Media".