Hong Kong plans to strengthen digital asset regulation within 18 months

On August 11, Hong Kong lawmaker David Chiu said that Hong Kong plans to strengthen the regulation of digital assets in the next 18 months and is committed to becoming a global fintech center.

The plan includes attracting global tech talent, building new infrastructure, and establishing a robust legislative oversight system.

David Chiu emphasized that although the digital asset industry has made significant progress in recent years, it is still at an early stage. Hong Kong will introduce legislation related to stablecoin as soon as possible and has already conducted sandbox testing, and will strengthen the regulation and enforcement of digital asset financial products in the coming year to year and a half.