Financial Secretary of Hong Kong: Steadily and prudently promote the development of the virtual asset industry in Hong Kong

Chen Maobo, Financial Secretary of the Hong Kong Special Administrative Region Government issued an article "Steady and prudent promotion of the development of the virtual asset industry in Hong Kong", mentioning that tokenized green bonds are expected to be launched before the end of the year, which will become the world's first tokenized government green bonds. It is also studying the digital Hong Kong dollar, which can serve as the "backbone" and pillar connecting legal tender and virtual assets, and provide the necessary support for promoting more innovations. In addition, the Hong Kong Monetary Authority has conducted a consultation earlier to explore how to regulate stablecoins used for payment purposes, and the next follow-up work will be announced later. Chen Maobo emphasized that under the premise of maintaining safety and properly controlling risks, embracing innovation will definitely bring new forces to economic and industrial development, and the development of its potential and application innovation requires the development of related technologies and the entire ecosystem, including Innovative applications such as virtual currency, virtual asset exchange, metaverse development, and "tokenized" securities issuance, trade finance, etc.