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Crypto Trends

Hong Kong launches policy 2.0 for global coding axis plans

The Hong Kong government has released a 2.0 updated policy statement on developing digital assets with the aim of becoming a global encoding center. Based on the 2022 policy plan, the new statement shows a comprehensive and modest strategy centered on organization, innovation and cooperation.

The newly introduced “Leap” framework, which shows four main points, is legal and regulatory simplification, expanding the scope of distinctive products, progressing in cases of use and cooperation between sectors and partnership development.

Hong Kong 2.0 plan for global encryption

In light of the legal and organizational simplification, the government Plan To unify the regulatory system of digital assets. The Securities and Futures Committee will lead the upcoming licensing systems for each of the digital asset traders. Meanwhile, financial services, the Treasury office (FSTB) and the Hong Kong Monetary Authority (HKMA) will conduct a comprehensive legal review to enable the broader distinctive symbol of the real assets and financial products in the real world, including improvements in settlement, registration and transactions protocols.

The government also moves to expand symbolic offers, and will start issuing organized, organized government bonds. It aims to enhance liquidity and investor participation by stimulating the asset icon such as traded and golden investment funds and renewable energy tools. Secondary market trading is also encouraged by symbolic investment funds on licensed platforms.

With the launch of a STABLECOIN license system on August 1, Hong Kong plans to deepen requests in the real world of digital assets. The government invites proposals for a Stablecoin test and will fund the influencing Blockchain projects through Cyberport, HUB for technological innovation.

Talents and cooperation remain essential in vision. The government aims to sponsor the skilled workforce through academic and industrial partnerships, and to place Hong Kong as a global research center for research and organizational dialogue.

“The digital assets bear the great development capabilities,” said Paul Chan’s financial assets. “Through the distinctive symbol, we can enhance efficiency, reduce costs and support financial inclusion.”

“Hong Kong is in a unique position in a unique position to bridge traditional financing with the era of digital assets. This framework helps us” jump “forward,” added the Minister of Financial Services and Treasury Christopher Hoy.

General consultations of new licensing systems will start soon, as Hong Kong will multiply the construction of a reliable and vibrant digital ecosystem.

Hong Kong was moving quickly on the organizational front, and even became the first region in the world to launch a FIAT STABLECOONS regulatory framework. South Korea has also presented the “Digital Assets Law” to create a legal framework for Stablecoins.

Also read: JPMorgan Chase Files Tradeark for Stablecoin possible “JPMD”

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