Hong Kong Legislative Council Member Yau Tat-kin: Proposes Hong Kong Securities and Futures Commission Establish Independent Digital Assets Department

TechFlow reports on September 9 that, according to the Hong Kong Commercial Daily, Mr. Chow Tat-kun, Legislator for the Innovation and Technology Functional Constituency of the Legislative Council, issued a policy proposal titled "3+3 Collaborative Development Blueprint — Hong Kong's Innovative Path to Integrating into the Nation's Future Industries".

Regarding digital finance (including Web3 and digital assets), Mr. Chow proposed a macro vision of "building an international digital asset hub by 2032". The recommendations include establishing an early investment channel for Web3 finance, creating a "Hong Kong-style Web3 Pinksheet" over-the-counter fundraising mechanism, and actively promoting the development of real-world asset tokenization (RWA) and tokenized equities. To improve approval and regulatory efficiency, he suggested that the Securities and Futures Commission set up an independent digital asset division, expand application scenarios for virtual asset ETFs and HKD stablecoins, and establish a unified compliance infrastructure.