Hong Kong will promote the use of tokenization technology in the capital market

According to Hong Kong media Ming Pao, Deputy Financial Secretary of Hong Kong, Wong Wai lun, stated that the Hong Kong government will further improve the regulation and framework of virtual assets, continue to promote the wider application of tokenization technology in the capital market, improve relevant system development, and formulate industry standards. In addition, Hong Kong is active and proactive in developing financial technology, such as the release of the "Policy Declaration on the Responsible Application of Artificial Intelligence in Financial Markets" in October last year, and the submission of the "Stablecoins Bill" in December last year to regulate fiat stablecoin issuers.