Hong Kong's SFC launches five-year digital-asset strategy including new licensing regime, custody rules, and tokenized gold/RWA framework.
DeFi & Yields ·
Hong Kong's Securities and Futures Commission has rolled out a five-year strategic roadmap aimed at establishing a comprehensive regulatory framework for digital assets. The initiative, announced on June 26 under Policy Statement 2.0, builds on earlier foundations and introduces a "LEAP" framework centered on legal clarity, expanded tokenized products, emerging use cases, and workforce development. The plan establishes unified licensing oversight for crypto exchanges, stablecoin issuers, dealers, and custodians under the SFC, while a legal review by the Financial Services and Treasury Bureau and Hong Kong Monetary Authority will enable tokenized financial instruments including bonds.
The roadmap extends tokenization beyond traditional finance into sectors such as gold, precious metals, and renewable energy. Authorities intend to mainstream tokenized government bonds, clarify tax treatment for tokenized exchange-traded funds, and permit their trading on licensed venues. The stablecoin licensing regime launches August 1, and regulators plan to test new payment and financial-services use cases.
The strategy also emphasizes infrastructure development and talent cultivation, with the government fostering collaboration between regulators and industry to build underlying systems. Hong Kong's Financial Secretary highlighted the policy as a practical blueprint for strengthening the territory's standing as a digital asset center while diversifying economic applications.