Hong Kong has formalized its regulatory approach to stablecoins and asset tokenization in a new policy statement, introducing a licensing regime for issuers effective August 1.
The “LEAP” framework prioritizes legal certainty, market expansion, and real-world applications.
Key components:
- SFC oversight for digital asset platforms
- HKMA-led review to support RWA tokenization
- Regularized tokenized bonds & ETFs
- Incentives for tokenizing metals, renewables
Financial Secretary Paul Chan stated the policy “showcases the practical use of tokenization” in bridging finance and everyday life.
