Hong Kong Unveils LEAP Policy to Cement Position as Global Crypto and Fintech Hub

Hong Kong has rolled out its latest digital asset policy blueprint, placing a strong emphasis on stablecoin oversight and the tokenization of real-world assets (RWAs). Announced Thursday, the framework— dubbed “LEAP”—focuses on four pillars: Legal clarity, Ecosystem development, Application of real-world use cases, and Promotion of talent. It builds upon the city’s 2022 digital asset roadmap, reflecting a maturing approach to Web3 regulation and adoption. A key feature of the policy is the introduction of a stablecoin licensing regime set to begin on August 1. The licensing will be overseen by the Securities and Futures Commission (SFC), while the Hong Kong Monetary Authority (HKMA) and the Financial Services and the Treasury Bureau (FSTB) will coordinate legal reviews aimed at enabling large-scale tokenization efforts . Plans for RWA Tokenization The government also revealed plans to institutionalize tokenized government bond issuances and encourage the development of tokenized ETFs. To ease barriers, authorities plan to clarify stamp duty rules on such products and welcome secondary market trading on licensed platforms. Hong Kong’s vision stretches beyond traditional finance. The policy advocates expanding tokenization into areas such as renewable energy and precious metals like gold, aiming to show how blockchain can modernize real-world industries. Hong Kong Innovation Push To support innovation, Hong Kong will launch a new Cyberport funding initiative that backs high-potential blockchain and digital asset startups. Public consultations are also expected soon to gather feedback on the new licensing frameworks. Financial Secretary Paul Chan commented that the LEAP policy is designed to bridge the digital asset space with real economic activity and social utility. “The goal is to create a thriving digital asset ecosystem that integrates deeply with everyday life,” he said. The city is also preparing to expand its crypto derivatives offerings for professional investors. This follows earlier milestones, including the launch of spot crypto ETFs and the approval of staking services by major firms like HashKey. Further reinforcing its commitment, Hong Kong’s Legislative Council passed the Stablecoin Bill in May, laying the groundwork for a regulated, innovation-driven digital finance landscape. The post Hong Kong Unveils LEAP Policy to Cement Position as Global Crypto and Fintech Hub appeared first on TheCoinrise.com .

Source: The Coin Rise