Key Takeaways
- Hong Kong unveiled Policy 2.0 to boost stablecoins, tokenization, and crypto regulation.
- Licensed crypto firms surged, with Guotai Junan up 137% and HashKey token up 99%.
- Industry sees this as a turning point, signaling Hong Kong’s serious push to lead in digital assets.
Earlier this week, Hong Kong doubled down on its crypto ambitions with its updated policy roadmap, Policy Statement 2.0, laying out a more structured path forward for the digital assets industry.
The new framework, paired with its LEAP strategy, signals a clear ambition— turning Hong Kong into Asia’s top crypto and tokenization hub.
And markets got the message.
Following the announcement, the share and token prices of several licensed virtual asset service providers (VASPs) in Hong Kong rose sharply, reflecting renewed investor confidence in the city’s regulatory direction.
Crypto Stocks Rally Behind Hong Kong’s Policy Push
Guotai Junan International Holdings led the charge, which saw its share price skyrocket by 137%.
Right behind was HashKey Group, whose token nearly doubled in value, up 99% following the policy statement’s release.
UP Fintech Holding posted a 28% gain, while OSL Group and Futu Holdings recorded solid increases of 22% and 8%, respectively.
A Regulatory Green Light
Hong Kong’s updated policy builds on its 2022 framework. Although this time with tighter licensing pathways for stablecoin issuers and clearer rules for exchanges, custodians, and tokenization platforms.
The goal, according to the document, is to make it easier for fintech startups and TradFi giants alike to operate in the region with legal certainty.
“Policy Statement 2.0 proves that Hong Kong remains dynamic and is heading in the direction the industry is hoping for,” said Cora Ang, Head of Legal & Compliance (APAC) at AMINA Bank. “We started with the VASP initiative focused on exchanges, but we’re moving beyond that now as the ecosystem organically grows and the SFC streamlines the regulatory framework for other relevant players.”
Hong Kong’s Crypto Endgame
The LEAP framework introduced alongside Policy 2.0—short for Legal clarity, Expanding products, Advancing use cases, and People/partnerships—sets the tone for what comes next.
“The LEAP framework represents a strategic win for the industry as it lays the foundation for stablecoin and tokenized asset growth,” Ang notes.
Hong Kong is trying to future-proof the digital asset industry with real-world use cases and a more globally aligned regime.
“This development indicates where Hong Kong is allocating its resources—driving for stablecoin adoption and the RWA tokenization industry, which is still very much untapped and carries huge potential across different instruments, verticals, and commodities. As the pieces come together, Hong Kong becomes the ideal gateway,” Ang added.
“Hong Kong’s digital asset environment is entering a new stage of maturity where regulators are genuinely listening to industry needs. We’re transitioning from a sandbox approach to a more comprehensive, internationally-aligned regulatory regime that balances investor protection, innovation, and market development—being proactive while ensuring regulatory clarity,” she concluded.
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