Hong Kong Legislative Council Member: Hong Kong is ready to strengthen digital asset regulation in the next 18 months

On August 11, according to Cointelegraph, Hong Kong Legislative Council member David Chiu said that Hong Kong is ready to strengthen its digital asset regulation in the next 18 months, marking an important step towards its mission to become a global fintech center.

David Chiu said, "The digital asset industry has made significant progress in the past few years, but Hong Kong is still in a very early stage. Hong Kong should establish a sound trading system and introduce legislation related to stablecoins as soon as possible."

In addition, David Chiu revealed that the sandbox test has been launched, and the government plans to strengthen the supervision and enforcement of laws related to digital asset financial products within one to one and a half years. The next stage will encourage project parties to explore more innovative financial products in Hong Kong.