TechFlow news, on August 11, according to Cointelegraph, Hong Kong Legislative Council member David Chiu said that Hong Kong plans to strengthen digital asset regulation within the next 18 months, aiming to become a global fintech hub. The initiative includes attracting global tech talent, building new infrastructure, and establishing a robust legislative oversight framework.
David Chiu emphasized that despite significant progress made by the digital asset industry in recent years, it remains in its early stages. He stated that Hong Kong will expedite the introduction of legislation related to stablecoins and has already conducted sandbox testing, with enhanced regulatory supervision and enforcement for digital asset financial products expected within the next one to one-and-a-half years.
