Chen Haolian: The Hong Kong Securities and Futures Commission is studying secondary-market trading rules for tokenized products, with the goal of releasing policy details in the first half of 2026.

ME News update: On April 20 (UTC+8), Chen Hao-lian, Deputy Secretary for Financial Services and the Treasury Bureau of Hong Kong, said at the opening ceremony of the 2026 Hong Kong Web3 Carnival that Hong Kong has developed into Asia’s leading international financial center, ranking third globally and first in Asia in the Global Financial Centers Index, with the fintech sector continuing to rank first worldwide. Hong Kong currently has more than 10 licensed trading platforms, and the Hong Kong Monetary Authority has issued the first batch of 2 stablecoin issuer licenses this month. Hong Kong is actively working with the Securities and Futures Commission to develop a regulatory regime for digital asset trading service providers and custody service providers, with the goal of submitting a draft ordinance to the Legislative Council in 2026.

Chen Hao-lian introduced Hong Kong’s Web3 development “LEAP” framework: optimizing laws and regulation, expanding the range of tokenized product types, promoting application scenarios and cross-sector collaboration, and developing talent and partners. Hong Kong has made the issuance of tokenized bonds routine: in November 2025, the third batch of tokenized green bonds was issued, with a total value of HKD 10 billion, making it the largest scale in the world. Hong Kong already has more than 10 tokenized money market funds approved by the SFC, and the SFC is working with the industry to study secondary-market trading rules for tokenized products, with the aim of publishing policy details in the first half of 2026. In August 2024, the HKMA launched the Ensemble project sandbox, and in November 2025 it entered a pilot phase under the name EnsembleTX, focusing on real-time liquidity management for trading tokenized money market funds. (Source: PANews)