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

ChainCatcher news, according to Hong Kong media Ming Pao, Hong Kong's Deputy Financial Secretary Huang Weilun stated that the Hong Kong government will further improve the regulation and framework for virtual assets, continue to promote the broader application of tokenization technology in the capital market, and enhance the development of relevant systems and the formulation of industry standards.

In addition, Hong Kong is proactive and effective in developing financial technology, such as the publication of the "Policy Declaration on the Responsible Use of Artificial Intelligence in Financial Markets" last October, and in December of last year, it regulated fiat stablecoin issuers and submitted the "Stablecoin Bill."