Hong Kong sets to announce policies on virtual assets

Financial Secretary Paul Chan said that the Hong Kong government will announce its framework for developing virtual assets such as cryptocurrencies and non-fungible tokens during Hong Kong’s Fintech Week from Oct 31 to Nov 4. This is in pursuit of the city becoming an international centre for virtual assets as it seeks to bolster its status as a global financial hub following the disruptions caused by the pandemic. Chan said the policies will include a regulatory system and trial programmes for the assets. Fintech Week is expected to attract participants from more than 500 organizations and over 200 speakers from China and abroad. Hong Kong has scrapped its hotel quarantine requirements for visitors arriving via the airport and is considering a package of policies including easing property taxes and visa restrictions to attract workers from mainland China and overseas.