Hong Kong’s Bid to Become the Global Crypto Hub: Laying Groundwork for STO Expansion

Inan ambitious bid to become a global hub for cryptocurrencies, the Hong Kong government is making considerable strides. A month has passed since the Virtual Asset Trading Platform (VATP) licensing system’s official launch on June 1. Meanwhile, governmental officials have also indicated plans to introduce a regulatory framework for stablecoins by the end of 2024. Now, the Hong Kong Securities and Futures Commission (SFC) reveals its intention to liberalize policies around Security Token Offering (STO). During a recent interview with blockchain analysis company Elliptic, the Director of the Licensing Division and Head of the Fintech Unit of the SFC, Clara Wong, stated that there would soon be an update revisiting the SFC’s stance on STOs, a stance first established four years ago in 2019. <a href="https://medium.com/@morphlin/hong-kongs-bid-to-become-the-global-crypto-hub-laying-groundwork-for-sto-expansion-3f8dea1f524a">Website</a>