Hong Kong's first five-year plan bets on tokenization, not cryptocurrencies
- —"Digital assets" is mentioned 3 times, "tokenization" 5 times, "virtual assets" 0 times
- —Tokenization was included among four key fintech areas alongside data, payments and AI
- —The plan names five instruments: CBDC, stablecoins, tokenized deposits, bonds and securities
- —Expansion of the sandbox and the principle of "same activity, same risk, same rules"
Why it matters: Hong Kong is cementing digital assets as part of financial infrastructure rather than a separate crypto industry: growth in tokenization and licensing without leniency for token issuance.
Source: ChainCatcher 链捕手