The Hong Kong financial market has ushered in an important moment - the Hong Kong Monetary Authority and the Hong Kong Securities and Futures Commission have officially launched the Ensemble tokenization sandbox, providing a testing platform for the tokenization of financial resources, which is expected to completely change the traditional financial system.
JinseFinanceThe Hong Kong Monetary Authority announced the progress of the first phase of the Ensemble project (Sandbox) and detailed four major tokenization case studies.
JinseFinanceJust today, July 16, 2024, the Hong Kong Financial Secretary recently pointed out that the Hong Kong Special Administrative Region Government needs to establish a regulatory system for issuers of fiat stablecoins, which will adopt a risk-based and pragmatic approach.
JinseFinanceThe use of digital RMB will provide Hong Kong and Mainland residents with an additional safe, convenient and new cross-border payment option.
JinseFinanceOn April 16, 2024, the Hong Kong Monetary Authority (HKMA) issued guidelines on distributed ledger technology (DLT).
JinseFinanceOn February 20, the Hong Kong Monetary Authority issued two currently effective regulatory guidance notices on digital assets and tokenized products, titled "Provision of Digital Asset Custody Services" and "Sales and Distribution of Tokenized Products Circular".
JinseFinanceCoverage, legislative approach, regulatory framework for fiat stablecoin issuers, custody and purchase services, and transitional measures.
JinseFinancePrior to this consultation, the HKMA had issued a Discussion Paper on Crypto-assets and Stablecoins in January 2022, inviting feedback from various stakeholders.
DavinA joint working group led by the CBUAE and HKMA, with support from the relevant stakeholders of the two jurisdictions’ banking sectors, will be formed to take forward the agreed initiatives.
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