Hong Kong has updated its digital asset strategy, which centers on stablecoin licensing and tokenization of real-world assets, introducing the LEAP framework for market growth.
Hong Kong’s latest digital asset blueprint places stablecoin regulation and asset tokenization at the heart of its strategy to become a global crypto and fintech hub.
The policy statement, issued on Thursday, introduces a framework known as “LEAP,” targeting legal clarity, ecosystem expansion, real-world applications, and talent development. It builds on the foundation laid by the government’s first policy statement in October 2022.
As part of the new framework, the government will implement a licensing regime for stablecoin issuers starting Aug. 1, which “will facilitate the development of real-world use cases,” per the announcement.
Read more