Hong Kong Legislative Council Member: Hong Kong will strengthen digital asset regulation in the next year and a half

2024-08-11 21:08:10

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ChainCatcher news, according to Cointelegraph, Hong Kong Legislative Council member Kenneth Lau said that Hong Kong is prepared to strengthen its digital asset regulation within the next 18 months, marking an important step towards Hong Kong's mission to become a global fintech hub.

Kenneth Lau stated that the digital asset industry has made significant progress in recent years, but Hong Kong is still in a very early stage. Hong Kong should establish a comprehensive trading system and introduce legislation related to stablecoins as soon as possible.

In addition, Kenneth Lau revealed that sandbox testing has begun, and the government plans to enhance the regulation and enforcement of laws related to digital asset financial products within one to one and a half years. The next phase will encourage project teams to explore more innovative financial products in Hong Kong.

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