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Hong Kong Legislative Council members propose that the Securities and Futures Commission establish an independent digital assets division, aiming to build an international digital asset hub by 2032.
According to reports from the Hong Kong Commercial Daily, Chau Tat-kun, Legislative Councillor for the Innovation and Technology functional constituency, has released a policy initiative titled the "3+3 Collaborative Development Blueprint". The proposal recommends that the Securities and Futures Commission (SFC) establish an independent dedicated department for digital assets to unify regulatory standards, shorten approval cycles, and build an integrated compliance infrastructure. The proposal simultaneously covers several supporting pathways, including establishing early investment channels for Web3, exploring an over-the-counter fundraising mechanism dubbed the "Hong Kong version Web3 Pink Sheet", and advancing the tokenization of real-world assets (RWA) and tokenized equities, aiming to position Hong Kong as an international digital asset hub by 2032. Currently, Hong Kong has approved 11 virtual asset spot ETFs, the highest in Asia, and the Stablecoin Ordinance has also been legislated.
Hong Kong Legislative Council Member Yau Tat-kin: Proposes Hong Kong Securities and Futures Commission Establish Independent Digital Assets Department
According to the Hong Kong Commercial Daily, Mr. Peter Yau Tak-kan, a Member of the Legislative Council for the Innovation and Technology functional constituency, has issued a policy initiative document titled "The '3+3 Collaborative Development Blueprint: Hong Kong’s Innovative Pathway to Integrate with the Nation’s Future Industries.'" Regarding digital finance (including Web3 and digital assets), Mr. Yau proposed a macro vision to "build an international digital asset hub by 2032," with recommendations covering the establishment of early investment channels for Web3 finance, the creation of a "Hong Kong-version Web3 Pinksheet" over-the-counter fundraising mechanism, and the active promotion of real-world asset tokenization (RWA) and tokenized stocks.
Hong Kong Legislative Council members propose that the Securities and Futures Commission establish an independent digital assets division, aiming to build an international digital asset hub by 2032.
According to reports from the Hong Kong Commercial Daily, Chau Tat-kun, Legislative Councillor for the Innovation and Technology functional constituency, has released a policy initiative titled the "3+3 Collaborative Development Blueprint". The proposal recommends that the Securities and Futures Commission (SFC) establish an independent dedicated department for digital assets to unify regulatory standards, shorten approval cycles, and build an integrated compliance infrastructure. The proposal simultaneously covers several supporting pathways, including establishing early investment channels for Web3, exploring an over-the-counter fundraising mechanism dubbed the "Hong Kong version Web3 Pink Sheet", and advancing the tokenization of real-world assets (RWA) and tokenized equities, aiming to position Hong Kong as an international digital asset hub by 2032. Currently, Hong Kong has approved 11 virtual asset spot ETFs, the highest in Asia, and the Stablecoin Ordinance has also been legislated.
Hong Kong Legislative Council Member Yau Tat-kin: Proposes Hong Kong Securities and Futures Commission Establish Independent Digital Assets Department
According to the Hong Kong Commercial Daily, Mr. Peter Yau Tak-kan, a Member of the Legislative Council for the Innovation and Technology functional constituency, has issued a policy initiative document titled "The '3+3 Collaborative Development Blueprint: Hong Kong’s Innovative Pathway to Integrate with the Nation’s Future Industries.'" Regarding digital finance (including Web3 and digital assets), Mr. Yau proposed a macro vision to "build an international digital asset hub by 2032," with recommendations covering the establishment of early investment channels for Web3 finance, the creation of a "Hong Kong-version Web3 Pinksheet" over-the-counter fundraising mechanism, and the active promotion of real-world asset tokenization (RWA) and tokenized stocks.
Hong Kong Legislative Council members propose that the Securities and Futures Commission establish an independent digital assets division, aiming to build an international digital asset hub by 2032.
According to reports from the Hong Kong Commercial Daily, Chau Tat-kun, Legislative Councillor for the Innovation and Technology functional constituency, has released a policy initiative titled the "3+3 Collaborative Development Blueprint". The proposal recommends that the Securities and Futures Commission (SFC) establish an independent dedicated department for digital assets to unify regulatory standards, shorten approval cycles, and build an integrated compliance infrastructure. The proposal simultaneously covers several supporting pathways, including establishing early investment channels for Web3, exploring an over-the-counter fundraising mechanism dubbed the "Hong Kong version Web3 Pink Sheet", and advancing the tokenization of real-world assets (RWA) and tokenized equities, aiming to position Hong Kong as an international digital asset hub by 2032. Currently, Hong Kong has approved 11 virtual asset spot ETFs, the highest in Asia, and the Stablecoin Ordinance has also been legislated.
BlackRock Outlines Blueprint for Crypto and Traditional Finance Integration, Digital Asset AUM Drops to $49 Billion
According to The Block, BlackRock CFO Martin Small disclosed during the Q2 earnings conference call that the company's digital asset assets under management (AUM) fell to $49 billion, down approximately 40% from a year ago, primarily weighed down by the price correction of BTC and ETH. Despite this, BlackRock's long-term strategy in the blockchain and tokenization sector has not contracted. Small stated that the company's long-term goal is to enable investors to "efficiently allocate crypto assets, stablecoins, and long-term equity and bond assets without leaving their digital wallets," and plans to gradually launch tokenized Treasury funds, iShares ETFs, and private market products. Specific progress includes: • Tokenized Money Market Funds: Two product applications have been submitted to the SEC, supporting investors to subscribe and redeem with stablecoins across multiple chains • Stablecoin Reserve Management: Currently manages approximately $60 billion of Circle's reserve assets, accounting for about one-quarter of the global $300 billion stablecoin market, aiming to become the industry's preferred reserve manager • Bitcoin ETF: Its iShares Bitcoin Trust ETF (IBIT) has an AUM of approximately $60 billion, making it the largest spot Bitcoin ETF globally • New Products: Launched the iShares Bitcoin Premium Income ETF (BITA) last month, providing Bitcoin exposure and comes with
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Hong Kong Legislative Council members propose that the Securities and Futures Commission establish an independent digital assets division, aiming to build an international digital asset hub by 2032.
According to reports from the Hong Kong Commercial Daily, Chau Tat-kun, Legislative Councillor for the Innovation and Technology functional constituency, has released a policy initiative titled the "3+3 Collaborative Development Blueprint". The proposal recommends that the Securities and Futures Commission (SFC) establish an independent dedicated department for digital assets to unify regulatory standards, shorten approval cycles, and build an integrated compliance infrastructure. The proposal simultaneously covers several supporting pathways, including establishing early investment channels for Web3, exploring an over-the-counter fundraising mechanism dubbed the "Hong Kong version Web3 Pink Sheet", and advancing the tokenization of real-world assets (RWA) and tokenized equities, aiming to position Hong Kong as an international digital asset hub by 2032. Currently, Hong Kong has approved 11 virtual asset spot ETFs, the highest in Asia, and the Stablecoin Ordinance has also been legislated.
Hong Kong Legislative Council Member Yau Tat-kin: Proposes Hong Kong Securities and Futures Commission Establish Independent Digital Assets Department
According to the Hong Kong Commercial Daily, Mr. Peter Yau Tak-kan, a Member of the Legislative Council for the Innovation and Technology functional constituency, has issued a policy initiative document titled "The '3+3 Collaborative Development Blueprint: Hong Kong’s Innovative Pathway to Integrate with the Nation’s Future Industries.'" Regarding digital finance (including Web3 and digital assets), Mr. Yau proposed a macro vision to "build an international digital asset hub by 2032," with recommendations covering the establishment of early investment channels for Web3 finance, the creation of a "Hong Kong-version Web3 Pinksheet" over-the-counter fundraising mechanism, and the active promotion of real-world asset tokenization (RWA) and tokenized stocks.
BlackRock Outlines Blueprint for Crypto and Traditional Finance Integration, Digital Asset AUM Drops to $49 Billion
According to The Block, BlackRock CFO Martin Small disclosed during the Q2 earnings conference call that the company's digital asset assets under management (AUM) fell to $49 billion, down approximately 40% from a year ago, primarily weighed down by the price correction of BTC and ETH. Despite this, BlackRock's long-term strategy in the blockchain and tokenization sector has not contracted. Small stated that the company's long-term goal is to enable investors to "efficiently allocate crypto assets, stablecoins, and long-term equity and bond assets without leaving their digital wallets," and plans to gradually launch tokenized Treasury funds, iShares ETFs, and private market products. Specific progress includes: • Tokenized Money Market Funds: Two product applications have been submitted to the SEC, supporting investors to subscribe and redeem with stablecoins across multiple chains • Stablecoin Reserve Management: Currently manages approximately $60 billion of Circle's reserve assets, accounting for about one-quarter of the global $300 billion stablecoin market, aiming to become the industry's preferred reserve manager • Bitcoin ETF: Its iShares Bitcoin Trust ETF (IBIT) has an AUM of approximately $60 billion, making it the largest spot Bitcoin ETF globally • New Products: Launched the iShares Bitcoin Premium Income ETF (BITA) last month, providing Bitcoin exposure and comes with