VhainCatcher news, according to Yahoo Finance, the Acting Secretary for Financial Services and the Treasury, Chen Haolian, stated that a second policy declaration regarding the development of virtual assets will be launched within this year. The next step will explore how to combine Hong Kong's traditional financial advantages with technological cooperation and innovation in virtual assets, utilizing virtual assets to enhance the security and flexibility of the local real economy, as well as encouraging local and international enterprises to explore innovative applications of virtual assets.

ChainCatcher news, according to Yahoo Finance, the Secretary for Financial Services and the Treasury, Christopher Hui, stated that in response to the latest developments in the virtual asset market, the Treasury will publish a second policy declaration on the development of virtual assets, outlining the vision and direction for the next steps. This policy declaration will explore how to combine the advantages of traditional financial services with technological innovations in the virtual asset sector, and enhance the security and flexibility of real economic activities. It will also encourage local and international enterprises to explore innovations and applications of virtual asset technology.Christopher Hui pointed out that the Securities and Futures Commission is considering introducing virtual asset derivatives trading for professional investors, emphasizing that robust risk management measures will be formulated. This is expected to further enrich the product options in the Hong Kong market while ensuring that trading is conducted in an orderly, transparent, and secure manner. In assisting fintech companies to expand their business, the Invest Hong Kong is actively collaborating with industry stakeholders to promote in the Guangdong-Hong Kong-Macao Greater Bay Area, helping Hong Kong fintech companies further expand into the mainland market.

ChainCatcher news, according to Hong Kong media Ming Pao, Hong Kong Financial Secretary Paul Chan stated during the announcement of the "Budget" that a second virtual asset policy declaration is set to be published. Sources indicate that the declaration is expected to be released in the second quarter. The new policy declaration will increase the emphasis on market development and better balance development and regulation. Additionally, the scope of the policy document will be broader, not only involving individual departments such as the Securities and Futures Commission or the Monetary Authority, and there is no intention for a single agency to regulate virtual assets.

ChainCatcher news, Hong Kong Financial Secretary Paul Chan announced in the 2025-26 Budget that a second policy declaration on the development of virtual assets will be published soon, exploring how to combine the advantages of traditional financial services with technological innovations in the virtual asset sector, and enhancing the security and flexibility of real economic activities. It will also encourage local and international enterprises to explore innovations and applications of virtual asset technology.Paul Chan reiterated that the government will consult on the licensing system for over-the-counter trading and custody services for virtual assets within the year. Regarding the regulation of stablecoins, the Hong Kong government has submitted a draft bill to the Legislative Council, and once the bill is passed, the Monetary Authority will expedite the approval of license applications.

ChainCatcher news, according to Digital Today, the South Korean Ministry of Personnel Management has requested all government agencies to reassess the implementation of restrictions on public officials' cryptocurrency holdings. Each agency must review its compliance and submit a report by January 31. The ministry specifically emphasized that not only agencies handling virtual asset policies, drafting and enforcing regulations, but also those involved in promoting economic and industrial policies, may be subject to restrictions on obtaining virtual asset information.

ChainCatcher news, member of the International Financial Planning Association, Kuang Zishan, stated that the victory of Donald Trump in the U.S. presidential election has led to a rise in all asset classes related to the "Trump trade." It is expected that industries such as finance, defense, manufacturing, technology, and cryptocurrency in the U.S. will benefit.One highlight of the Trump trade is his historically friendly support for cryptocurrency. He has even stated that if he wins, he will establish a Bitcoin reserve for the U.S., indicating that Bitcoin, with Trump's backing, is likely to soar and reach new historical highs.Additionally, at the beginning of the year, the U.S. Securities and Exchange Commission announced the approval of Bitcoin ETFs, and in April, the Bitcoin halving occurred for the fourth time. Furthermore, a British pension consulting firm announced that the first pension fund in the UK will allocate Bitcoin. This shows that the future rise of Bitcoin is generally viewed positively by professional investment institutions, and it is anticipated that more professional investors will participate through overseas virtual asset spot ETFs, making it only a matter of time before more virtual asset policies are relaxed.

ChainCatcher news, the Hong Kong Special Administrative Region government has issued a policy declaration regarding the development of virtual assets in Hong Kong, clarifying the government's policy stance and guidelines for developing a vibrant virtual asset industry and ecosystem in Hong Kong. The policy declaration covers the following aspects:Vision and Guidelines: Hong Kong is an international financial center that maintains an open and inclusive attitude towards global innovators engaged in virtual asset businesses. The government is currently working with financial regulatory bodies to create a conducive environment to promote the sustainable and responsible development of the virtual asset industry in Hong Kong. Hong Kong will timely establish necessary regulations to mitigate actual and potential risks according to international standards, allowing virtual asset innovation to thrive sustainably in Hong Kong.Regulation: The Hong Kong government believes that a consistent, clear, and comprehensive regulatory framework will help lay a solid foundation to embrace the financial innovation and technological development brought about by the rapid growth of global virtual assets. While intensifying preparations for a new licensing system for virtual asset service providers, Hong Kong is also willing to connect with the global virtual asset industry, inviting relevant exchanges to explore business opportunities in Hong Kong.The Securities and Futures Commission of Hong Kong will conduct public consultations on the appropriate extent to which retail investors can buy and sell virtual assets under the new licensing system. The government holds a welcoming attitude towards the introduction of virtual asset exchange-traded funds (ETFs) in Hong Kong.The government is open to reviewing the legality of tokenized asset ownership and smart contracts in the future to facilitate their development in Hong Kong.The Hong Kong Monetary Authority will later release consultation results and next steps regarding the regulatory framework for stablecoins.Pilot Programs: The government and regulatory bodies are studying the launch of the following pilot programs to test the technological benefits brought by virtual assets and to attempt to further apply the relevant technologies in the financial market. These pilot programs include the issuance of non-fungible tokens (NFTs) for the 2022 Hong Kong FinTech Week, green bond tokenization, and the digital Hong Kong dollar.Outlook: Hong Kong will implement the vision contained in this policy declaration through facilitating policies, comprehensive and balanced regulation, risk-based restrictions, and various pilot programs. The government sincerely invites the global virtual asset industry to collaborate with Hong Kong, leveraging Hong Kong's status as an international financial center, adhering to the best international standards and practices, and unleashing the potential for financial innovation in a clear, flexible, and convenient regulatory environment. (Source link)

According to ChainCatcher, Hong Kong's Financial Secretary Paul Chan revealed that the SAR government will release a policy declaration regarding the development of virtual assets in Hong Kong during the "FinTech Week" (held from October 31 to November 4), showcasing the vision of transforming Hong Kong into an international virtual asset center to the global industry, as well as the commitment to explore financial innovation together with the global asset industry.Chan mentioned that the "Hong Kong FinTech Week" will incorporate new elements, including the distribution of limited edition Proof of Attendance Protocol (POAP) tokens to participants in a first-come, first-served manner in the form of non-fungible tokens (NFTs). Token holders will be able to create their own virtual avatars through 3D scanning, providing guests with a new experience, and in the future, they can use the tokens to gain priority access to other industry events. (Lianhe Zaobao)