Overview

• Policy Statement 2.0 establishes licensing regimes for stablecoin issuers, digital asset service providers and exchanges under the Securities and Futures Commission, with stablecoin licensing effective from August 1.
• The government has invited market proposals to pilot stablecoin applications in public scenarios such as cross-border trade and settlement.
• The Financial Services and the Treasury Bureau and the Hong Kong Monetary Authority will review the legal framework for tokenizing real-world assets and government bonds.
• Cyberport will launch a funding scheme to support high-impact blockchain and digital asset projects.
• It follows the US Senate’s passage of the Genius Act to regulate stablecoins, marking a parallel step in US regulatory efforts.