Hong Kong Government issued ‘Policy Statement on development of Virtual Assets in Hong Kong’ on Oct 31, 2022. #HK #VirtualAssets

• The statement sets out the Government's policy stance and approach towards developing a vibrant sector and ecosystem for VA in Hong Kong

• The vision is to provide a facilitating environment for promoting sustainable and responsible development of the VA sector in Hong Kong

•Regulators will implement a new licensing regime for VA Services Providers in Hong Kong which set a bar for VASP to prevent fraud and money laundry

•Hong Kong will be open to the possibility of having Exchange Traded Funds (ETFs) on VA in our market

3 pilot projects：non-fungible token (NFT) issuance for Hong Kong Fintech Week 2022, Green bond tokenisation, and e-HKD

•In general, Hong Kong is open for tokenized assets and crypto technology innovation in financial domain. The government regard this as a game changer for Hong Kong to re-establish its regional financial center position.

https://gia.info.gov.hk/general/202210/31/P2022103000454_404805_1_1667173469522.pdf