Hong Kong has unveiled its updated digital asset strategy—Policy Statement 2.0—reaffirming its ambition to become a global crypto innovation center. Building upon the original 2022 framework, the new policy introduces the “LEAP” agenda: Legal clarity, Ecosystem expansion, Application advancement, and People-first development.
Speaking at the launch, Financial Secretary Paul Chan emphasized blockchain’s potential to drive more inclusive and cost-efficient finance. The updated policy lays the foundation for advancing real-world applications like tokenized bonds and ETFs, while also enhancing infrastructure for crypto firms across the region.
Since 2022, Hong Kong has made steady progress by implementing a licensing regime for crypto exchanges and initiating guidelines for stablecoin issuers. Policy Statement 2.0 now deepens those efforts with a broader scope and stronger regulatory alignment.
Stablecoin Licensing and Tokenized Assets Get Regulatory Backing
A major component of the new policy is the introduction of clear licensing rules for digital asset dealers and custodians, led by the Securities and Futures Commission (SFC). Meanwhile, the Financial Services and the Treasury Bureau (FSTB) and Hong Kong Monetary Authority (HKMA) will oversee legal adjustments that support tokenization of real-world assets (RWAs).
These developments come as Hong Kong positions itself as a hub for tokenized products, including government bonds, ETFs, and assets like gold, base metals, and renewables. The policy also outlines tax rule clarifications for tokenized ETFs and promises greater liquidity through secondary trading on licensed crypto platforms.
The government plans to initiate public consultations soon, inviting feedback on digital asset custody and dealing licenses to ensure the framework serves both innovation and investor protection.
A Measured Bid to Cement Global Crypto Leadership
Industry voices are already praising the statement’s ambitious tone. Eugene Cheung, Chief Commercial Officer of OSL Group, called it a “significant step” toward cementing Hong Kong’s status as a digital asset leader. He also highlighted the government’s crypto tax concessions as a targeted move to accommodate institutional growth and market needs.
The city’s push aligns with recent legislative milestones, including the passage of a new law that enforces licensing requirements for fiat-backed stablecoin issuers—set to take effect August 1. Officials believe these policies will not only attract global firms but also strengthen Hong Kong’s position as an offshore yuan settlement hub in the years ahead.
Quick Facts
- Hong Kong launches Policy Statement 2.0 with the LEAP strategy to drive digital asset innovation.
- SFC and FSTB to lead crypto licensing efforts, targeting custodians, dealers, and tokenization use cases.
- Stablecoin issuer licenses go live August 1, with broader RWA tokenization initiatives in the works.
- Tax rules and secondary markets for tokenized assets to be clarified, aiming to boost liquidity and investor confidence.
