Optimism

BlackRock

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/hong-kong-sets-stage-for-tokenization-sector-expansion">Hong Kong Sets Stage for Tokenization Sector Expansion</a><br></p>
<p style="text-align: justify"> Regulatory bodies in Hong Kong, specifically the Hong Kong Monetary Authority and the Securities and Futures Commission, are actively working to foster the development of the tokenization market. Tokenization, which translates ownership of real-world assets into digital tokens on the blockchain, is anticipated to enhance both the transparency and efficiency of transactions. </p> 
<h2 id="embracing-fintech-and-crypto-innovations">Embracing Fintech and Crypto Innovations</h2> 
<p style="text-align: justify"> The Financial Services and the Treasury Bureau have launched initiatives to support fintech and tokenization, including the Integrated Fund Platform (IFP), which will facilitate applications from the cryptocurrency and Web3 industries with ties to the real economy. Financial Secretary Paul Chan has emphasized the significance of these programs, aiming to make financial services more affordable, accessible, and inclusive. The initiatives are designed to boost digitalization, product innovation, and provide the public with better financial solutions. </p> 
<p style="text-align: justify"> The SFC is set to publish guidance on tokenized securities and investment products approved by the commission. These measures are aimed at setting clear regulatory standards and safeguarding investors. A document has been circulated by the SFC outlining potential tokenization standards for investment products, stressing the importance of responsible product management and the necessity for effective cyber <a href="https://en.bitcoinhaber.net/crypto-security-improvements-lead-to-a-decrease-in-hack-related-losses">security</a> measures. </p> 
<h2 id="optimism-from-financial-experts">Optimism from Financial Experts</h2> 
<p style="text-align: justify"> Influential figures like Larry Fink of BlackRock are positive about the potential of asset tokenization. Fink foresees a future where all assets, including ETFs, could be tokenized, enabling instant transactions and simple transfers of ownership. He believes that tokenization could be a means to eradicate corruption and enhance transparency in transactions. </p> 
<p style="text-align: justify"> In an ongoing effort to regulate the crypto industry, Hong Kong demands that all cryptocurrency trading platforms obtain a VATP license by the end of February. The objective is to ensure a regulated trading environment, emphasizing the necessity of compliance for investor protection and the risks posed by unlicensed platforms.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/hong-kong-sets-stage-for-tokenization-sector-expansion">Hong Kong Sets Stage for Tokenization Sector Expansion</a></h5>

Hong Kong Sets Stage for Tokenization Sector Expansion

목차

BH NEWS

2024년 2월 20일에 게재된 다른 기사

Polygon Labs, Animoca Brands partner with Human Institute to launch ZKP-powered palm recognition

Starknet (STRK) Started Distributing Its Expected Airdrop, Price Jumped! Good news about airdrop ...

CME Group to launch Micro EUR futures for BTC and ETH

Starknet airdrop largely successful despite controversies

Profitable Shorting Strategies: Analyst Unveils Key Tactics

Crypto.com, Bybit, Kucoin, and Gate.io Among Others to List Ai-Powered bitsCrunch $BCUT Token

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!