Hong Kong reveals new stablecoin rules and tokenized bond plans

Hong Kong updated its digital asset strategy regarding stablecoin licensing and tokenization of real-world assets by introducing its 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.”

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