Caixin: Hong Kong tokenized ETFs will enjoy stamp duty exemption

According to Caixin, the Hong Kong Financial Services and the Treasury Bureau today released the "Hong Kong Digital Asset Development Policy Declaration 2.0", which states that the Hong Kong government will step up efforts to expand the tokenization scheme, promote a wider range of assets and financial instruments tokenization, and demonstrate the technology in different sectors, including precious metals (such as gold), non-ferrous metals, and renewable energy such as solar panels. At present, all ETFs listed on the Hong Kong Stock Exchange are exempt from stamp duty upon transfer. In order to promote the development of the tokenization market, the Hong Kong government will clarify that the measures to exempt stamp duty also apply to tokenized ETFs, which is equivalent to clarifying the stamp duty situation after tokenized ETFs are allowed to trade in the secondary market in the future. " Policy Statement 2.0 has also made it clear that market participants are welcome to explore the advantages of tokenizing ETFs, including introducing them to secondary market transactions on licensed digital asset exchanges or other platforms.