Hong Kong Financial Secretary: The Securities and Futures Commission will issue a notice regarding tokenized assets

2023-11-02 12:17:16

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ChainCatcher news, Hong Kong Financial Secretary Paul Chan Mo-po stated at the main forum of the 8th Hong Kong FinTech Week that the government continues to encourage Web3 innovation, and the recent crackdown on JPEX has not undermined its determination.

Paul Chan indicated that the Securities and Futures Commission will soon issue a notice regarding intermediaries engaged in activities related to tokenized securities and the tokenization of investment products approved by the SFC.

He mentioned that another area of concern for regulators is exploring how to expand their jurisdiction to cover the buying and selling of virtual assets beyond transactions occurring on virtual asset trading platforms.

At the same time, the Hong Kong Monetary Authority and the Financial Services and the Treasury Bureau will soon publish another joint consultation on the regulatory framework for stablecoin issuers.

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