Chan Ho-lim: Hong Kong will adhere to the principle of "same business, same risks, same rules" to consolidate its status as an international financial center

Techub News reported that Joseph Chan, Deputy Secretary for Financial Services and the Treasury of Hong Kong, stated at the 2026 Hong Kong Web3 Carnival that Hong Kong is steadily advancing Web3 and tokenization development with an open and pragmatic attitude, leveraging the unique advantages of "one country, two systems" to be backed by the motherland and connected to the world. He pointed out that Hong Kong ranks third globally and first in Asia in the Global Financial Centres Index, and leads the world in fintech, providing a solid foundation for digital asset innovation.

Chan introduced the progress of the "LEAP" four-pillar framework outlined in Hong Kong's "Policy Declaration on Development of Digital Assets 2.0" released in 2025. Regarding optimizing laws and regulations, the first two stablecoin issuer licenses have been issued, with over 10 licensed trading platforms currently operating. Regulations for digital asset trading and custody service providers are being formulated, with the goal of submitting them to the Legislative Council in 2026. In expanding tokenized product varieties, there are over 10 tokenized money market funds recognized by the Securities and Futures Commission, and secondary market trading rules are under study. In advancing application scenarios and cross-sector collaboration, the third batch of tokenized green bonds was issued in November 2025, totaling HKD 100 billion, making it the largest of its kind globally. The Hong Kong Monetary Authority launched the Ensemble project sandbox and has entered the EnsembleTX trial phase. Regarding talent and partner development, strategic collaborations between universities and the industry are being promoted, focusing on blockchain, tokenization, and AI-driven financial instruments to cultivate a new generation of technical experts.

Chan emphasized that Hong Kong will adhere to the principle of "same business, same risks, same rules" to build a regulatory system suited to local conditions and aligned with international standards, ensuring a healthy, responsible, and sustainable digital asset market, thereby further consolidating its status as an international financial centre.