Hong Kong’s finance chief has promoted the city’s regulatory regime for digital assets as “responsible and sustainable” at the annual World Economic Forum in Davos.
Delivering opening remarks at a closed-door workshop on Tuesday, Financial Secretary Paul Chan Mo-po said finance and technology were “mutually reinforcing”, but a balanced approach was needed to support their development.
Speaking about Hong Kong’s experience, Chan said digital assets could enhance transparency, strengthen risk management and allow capital to move more efficiently.
“We view digital assets as a financial innovation that we should embrace proactively,” he said, referring to the city’s approach to the growing financial technology sector.
“We also believe digital assets should serve the real economy. But we must also build strong guardrails to address risks to financial stability, market integrity and investor protection,” he added.
He said Hong Kong’s principle of “same activity, same risk, same regulation” promoted “healthy, responsible and sustainable” development of digital assets.
