Odaily Planet Daily reported that when Hong Kong Chief Executive John Lee delivered his fourth policy address, he stated that the Hong Kong Monetary Authority would encourage commercial banks to launch tokenized deposits and promote the trading of real tokenized assets. For example, tokenized deposits could be used to settle tokenized money market funds, the government could be assisted in normalizing the issuance of tokenized bonds, and banks could be encouraged to strengthen risk management through regulatory sandboxes. John Lee stated that Hong Kong is implementing a stablecoin issuer system and formulating legislative proposals for a licensing system for digital asset trading and custody services. The Securities and Futures Commission of Hong Kong is studying how to expand the types of digital asset products and services available to professional investors while fully protecting investors, while also strengthening international tax cooperation to combat cross-border tax evasion. (Jinshi)