Hong Kong Financial Development Council report: More asset tokenization products are expected to be launched
Hong Kong Monetary Authority and Oxford Metrica (OM), an international consulting firm, released a 2023 survey report, pointing out that Hong Kong has become one of the top ten global technology innovation centers outside of Silicon Valley in the United States, and is in a favorable position in developing regional centers for virtual assets, further consolidating Hong Kong's position as a global financial hub. The report suggests that Hong Kong, under the lack of clear regulatory frameworks in other markets, should attract digital and virtual asset companies and investors to develop in Hong Kong by using its own advantages. Looking ahead, the report expects more asset tokenization products to emerge, and the report also states that "now is the appropriate time for Hong Kong to promote the development of the virtual asset market". The Hong Kong Monetary Authority is also studying the regulatory system of stablecoins, with the goal of implementing relevant measures next year.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
SingularityNET partners with Mina for privacy-focused decentralized AI
Huge ‘screw-up’ — Pump Science apologizes after flood of fraud tokens
Crypto hackers steal $71M in November, bringing yearly total to $1.48B
Non-USD stablecoins can spur adoption: Report