Hong Kong has released the Digital Asset Development Policy Declaration 2.0, aiming to streamline the digital asset market through four key initiatives. These include optimizing legal frameworks and initiating public consultations on licensing mechanisms for digital asset trading and custody service providers. The Securities and Futures Commission will oversee licensing and standards, while the Hong Kong Monetary Authority will supervise banks' digital asset activities. Legislative Council member Wu Jiezhuang highlighted the declaration's potential to attract talent and investment, and to address past market chaos, fostering industry growth.