Hong Kong Expands Virtual Asset and Gold Markets: Regulatory Framework Under Development

Hong Kong is proactively fostering its virtual asset and gold markets by introducing new financial sectors, according to Xu Zhengyu, Secretary for Financial Services and the Treasury of Hong Kong. The city aims to leverage opportunities in fintech, virtual assets, stablecoins, and green finance. Legislative efforts are underway to establish a regulatory framework for stablecoins, addressing growing market demand. Next steps include continued innovation and expansion into new financial sectors.