Caixin: Hong Kong tokenized ETFs will enjoy stamp duty exemption

Odaily News The Financial Services and the Treasury Bureau of Hong Kong today published the "Hong Kong Digital Asset Development Policy Declaration 2.0", which pointed out that the Hong Kong government will step up efforts to expand tokenization solutions, promote the tokenization of a wider range of assets and financial instruments, and demonstrate the technology in different sectors, including precious metals (such as gold), non-ferrous metals and renewable energy such as solar panels). Diverse applications.
Currently, all exchange-traded funds (ETFs) listed on the Hong Kong Stock Exchange are exempt from stamp duty when they are transferred. In order to promote the development of the tokenized market, the Hong Kong government will clarify that the stamp duty exemption measures also apply to tokenized ETFs, which is equivalent to clarifying the stamp duty situation after tokenized ETFs are allowed to be traded in the secondary market in the future. The Policy Declaration 2.0 also made it clear that market participants are welcome to explore the advantages of tokenizing ETFs, including introducing them for secondary market trading on licensed digital asset trading platforms or other platforms. (Caixin)