Hong Kong has updated its digital asset strategy to emphasize stablecoin regulation and the tokenization of real-world assets. The new framework, called LEAP, aims for legal clarity, ecosystem growth, real-world applications, and talent development. Starting August 1, a licensing regime for stablecoin issuers will be introduced, overseen by the Securities and Futures Commission, with support from the Financial Services and the Treasury Bureau and the Hong Kong Monetary Authority for asset tokenization. The government plans to manage the issuance of tokenized government bonds and clarify stamp duty for tokenized ETFs, encouraging secondary market trading on licensed platforms. In addition, there is a goal to expand tokenization in sectors like metals and renewable energy. The measures also include funding programs to support blockchain innovation, enhancing Hong Kong’s position as a global digital finance hub.

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