India Eyes Bitcoin Reserve, Hong Kong Sets Stablecoin Rules, and Trump-Linked WLFI Secures $100M
Hong Kong has announced a new regulatory framework for digital assets, focusing on stablecoins and the tokenization of real-world assets. The plan, known as the “LEAP” framework, was introduced by financial authorities to build a regulated and globally competitive crypto ecosystem. It prioritizes legal clarity, ecosystem expansion, application development, and talent acquisition.
As of August 1, all issuers of stablecoins will have to obtain licenses to operate in Hong Kong. Regulation by the Securities and Futures Commission will license the secure custody and dealing of digital assets. Still, other authorities will examine the law, which will facilitate the tokenisation of assets.
The government also aims to standardize the issuance of tokenized government bonds and promote the use of tokenized exchange-traded funds (ETFs). Officials said secondary trading of these ETFs could soon begin on licensed digital asset platforms. Plans also include expanding tokenization to sectors such as precious metals and renewable energy.
