Hong Kong Legislative Council Member Duncan Chiu Proposes Establishing an Independent Digital Asset Department under the SFC, Aiming to Build an International Digital Asset Hub by 2032

Odaily News Hong Kong Legislative Council Member for the Technology and Innovation Sector, Duncan Chiu, has released a policy proposal titled "The '3+3 Synergistic Development Blueprint' - Hong Kong's Innovative Path to Integrating into the Nation's Future Industries." The proposal recommends that the Hong Kong Securities and Futures Commission (SFC) establish an independent department dedicated to digital assets, and sets a goal of positioning Hong Kong as an international digital asset hub by 2032. The blueprint also includes building early-stage investment channels for Web3 finance, exploring the establishment of a "Hong Kong-style Web3 Pinksheet" over-the-counter fundraising mechanism, and promoting the tokenization of real-world assets (RWA) and tokenized stocks.