The Hong Kong Monetary Authority (HKMA) will advance Project Ensemble and encourage commercial banks in the city to introduce tokenised deposits, while promoting live transactions of tokenised assets.
“We are implementing a regime for stablecoin issuers and formulating legislative proposals regarding licensing regimes for digital asset dealing and custodian service providers,”
Hong Kong’s Chief Executive John Lee said in his 2025 Policy Address on September 17.
The HKMA is expected to assist the government in regularising the issuance of tokenised bonds and to encourage banks to strengthen risk management through their supervisory sandbox, according to Asian Banking and Finance.
Separately, the Securities & Futures Commission (SFC) is studying the possibility of offering a wider range of digital asset products and services to professional investors, provided sufficient investor protection is in place, Lee added.
“The SFC will also introduce automated reporting and data surveillance tools to build a line of defence against risks associated with digital assets in Hong Kong.”
Hong Kong will also deepen pilot cooperation with the Greater Bay Area (GBA) carbon market.
“Working with relevant Mainland regulatory departments and authorities, the government will study issues surrounding the country’s participation in the international carbon market, including the formulation of voluntary carbon credit standards and methods, as well as the registration, trading and settlement of carbon emission reduction,”
Lee said.
Featured image credit: GovHK