On October 31, the Hong Kong Special Administrative Region issued a policy declaration on the development of virtual assets in Hong Kong, clarifying the government's policy stance and guidelines for the development of a dynamic virtual asset industry and ecosystem in Hong Kong.

The policy declaration mainly covers four aspects: vision and guidelines, supervision, pilot plan and outlook.

The government sincerely invites the global virtual asset industry to work together, rely on Hong Kong's status as an international financial center, comply with the best international standards and practices, and develop the potential of financial innovation under clear, flexible and convenient regulatory conditions.