OSL Group Chief Business Officer: Hong Kong is committed to promoting RWA tokenization through cross-departmental collaboration.

Gate News bot message, OSL Group's Chief Business Officer Eugene Cheung told The Block: "The Hong Kong SAR government is committed to advancing the tokenization of real-world assets (RWA) through interdepartmental collaboration, which is an important step for Hong Kong towards becoming a global leader in digital asset innovation."

He added that the recent tax incentives in Hong Kong for specific digital assets "indicate a positive response to market demand."

In May of this year, the Hong Kong Legislative Council passed a bill to establish a licensing system for stablecoin issuers. This licensing system for stablecoin issuers will take effect on August 1.

The Financial Secretary of Hong Kong, Paul Chan, stated earlier this month that the licensing system is expected to enhance Hong Kong's status as a "global offshore Renminbi hub."