Hong Kong Expands Crypto Push With Digital Asset Policy 2.0

• Hong Kong launches Policy 2.0 to boost global leadership in digital asset regulation.
• LEAP framework targets legal clarity, tokenization, and industry-academic collaboration.
• New stablecoin licensing regime begins on August 1 to drive real-world crypto adoption.

Hong Kong has released a new policy aimed at strengthening its leadership in the global digital asset (DA) space. On June 26, the government introduced “Policy Statement 2.0” to expand on its 2022 framework for digital assets.

The policy highlights a structured roadmap to support tokenized finance, regulatory clarity, and digital innovation. Officials say this effort aligns with Hong Kong’s long-term goal of becoming a top global crypto hub, rivaling Dubai, Singapore, and the United States.

LEAP Framework Introduced for Market Development

At the heart of the new strategy is the “LEAP” framework. It focuses on four key areas: legal clarity, expanding tokenization, advancing collaboration, and people development. Hong Kong authorities aim to streamline the legal environment for digital asset exchanges, stablecoin issuers, and custodians.

The Securities and Futures Commission (SFC) will lead new licensing rules for DA trading and custody services. At the same time, the Financial Services and the Treasury Bureau (FSTB) will work on legal changes to support real-world asset (RWA) tokenization. This includes changes for bond settlements, registration processes, and recordkeeping rules.

Government officials also aim to expand the use of tokenized products. The city plans to regularize tokenized bond issuance and improve rules around tokenized exchange-traded funds (ETFs). This will include clarifying stamp duty laws for such digital instruments.

The city hopes tokenized assets such as gold, renewable energy systems, and industrial metals will become more widely accessible through blockchain systems. Officials welcome proposals to list tokenized products on licensed trading platforms.

Stablecoin rules are also advancing. On August 1, a new licensing regime for stablecoin issuers will begin. This move is expected to promote more real-world use cases for digital assets in payments and other industries.

The government encourages proposals for pilot testing of stablecoins issued under the new framework. Cyberport, a government-backed tech hub, will also launch funding schemes for impactful blockchain and DA projects.

Related: Hong Kong Drafts Strategy to Lead Global Stablecoin Market

Officials Signal Long-Term Commitment to Web3 Future

Speaking about the rollout, Financial Secretary Paul Chan described the new statement as a “vision for DA development.” He said tokenization can increase efficiency in financial systems while encouraging more inclusive access to services.

He added that blockchain-powered asset products can bring financial tools closer to everyday users. The aim is to connect the real economy with digital innovation through responsible regulation and private-sector collaboration.

Christopher Hui, Secretary for Financial Services and the Treasury, said Hong Kong is “uniquely positioned” to connect traditional finance with the digital era. He explained that the LEAP framework ensures a secure, deeply integrated market environment for DAs.

Hong Kong will also increase talent development in blockchain and tokenization. The government plans to work with universities and tech firms to build a strong knowledge base. A new talent pipeline is expected to attract digital entrepreneurs, engineers, and researchers.

To encourage global participation, the city will pursue joint research, international partnerships and policy alignment with other regulatory jurisdictions. Hong Kong wants to remain at the forefront of digital financial innovation and international Web3 leadership.

Consultations will soon begin for the new DA trading and custodian licensing programs. Officials expect feedback from industry stakeholders, law firms, and technology companies.

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