TechFlow reports, on November 11, according to Radio Television Hong Kong, Ms. Julia Leung, Chief Executive Officer of the Securities and Futures Commission (SFC), stated that despite Bitcoin's recent strong performance, the SFC is more focused on the application of blockchain technology underlying virtual assets. The commission will accelerate the development of a blockchain-based fintech ecosystem, including tokenized bonds and investment products, to enhance the settlement efficiency of traditional finance.
Leung noted that central bank digital currencies (CBDCs) and stablecoins can effectively reduce the cost of cross-border remittances, and suggested providing more opportunities during the technological development phase. In addition, the SFC plans to establish a biannual regular meeting mechanism with Middle Eastern regulators, with the first meeting scheduled to be held in Hong Kong next year, strengthening Hong Kong's role as a financial hub for the Middle East economic corridor.
