Chen Haolian, Deputy Secretary of Financial Services and the Treasury Bureau of Hong Kong: Support the development of security token issuance business under compliance requirements

Chen Haolian, Deputy Secretary for Financial Services and the Treasury of Hong Kong, said in a closed-door meeting, "The government of the Hong Kong Special Administrative Region supports the development of financial technology, so as to provide the society with a wide range of innovative financial services to support the development of the real economy. To ensure the sustainable development of the currency issuance business in Hong Kong under the relevant regulatory and compliance requirements to ensure investor protection and combat money laundering and terrorist financing.” Securities and Futures Commission (SFC) Department of Intermediaries Huang Lexin, Director of the Licensing Division and Head of the Financial Technology Group, said at the meeting that the application of distributed ledger technology to issue securities can help improve efficiency, transparency and reduce costs.