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Hong Kong speeds license for the virtual assets and expand tokenization efforts, according to a written response For secretary for financial services and Christopher Christopher Hui to the legislative board on July 30.
The government said that steady sorting is going to do the 1 of August next to the Trading Fermae. Added to consult to costumes to finalize legislatory proceeds.
Hui confirmed that the headlines and future commission (sfc) has licensed 11 platforms and is reviewing another nine. Since the 2025 of January, all New candidates I am subjected to a dismissing procedure that stated involving inspections in the site site and external ratings in the SFC from the SFC.
Regulators also expand Sandbox mechanisms covering the blockchain, the tokenization, and the AI applications to allow the processes under controlled conditions.
Hui said the government regularly regular the emission of the Green Tokensed, following success deals in 2023 and 2024.
Hong Kong’s monetary authority prepares a third issue, while the sfc has already approved the network products to the network of the golden market and funds.
Future plans include tokenization exploring real and private funds. Hkma project project is at work infrastructure to support the disappointed deposits and other traditional financial products.
Hui noticed that Hong Kong will continue their commitment with the financial task strength, international monetary (imf), and institute as the The assessment shop institution of the currency. I am
The city says reinforces the coordination of the old-lament and share regulatory experience in international.
“Currently, Hong Kong is the discussion of the virtue contacts of the tractful contact to evaluate the assets to utrly with the latest Aml / Virgls.
He added that the participation of that of Hong Kong to the global forums support both the financial stability and the position of the city as a digital asset.
Beyond domestic reforms, the Hong Kong’s efforts come in attention to intensifying intensification by other important financial centers. Singapore and the United States are advanced their own stablecoin squares, lifting the bar for regulative efficiency and trust of international market.
Hong Kong’s ability to attract institutional players can move out what is running its rules with global standards while withholding flexibility for innovation.
The analysts suggests the tokencion could support fractionary property models in real and infrastructive and transmit and liquidity and liquidity in traditional sectors illuminated.
To controlling tokends tokends with cross-trade, hong kong could provide corporated with faster and more transparent channels.
Mainland institutions could see Hong Kong serves as a test terrain for stable yuan-backedcoin steady pilots.
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