Director of the Gold Research Institute of the Chinese Academy of Social Sciences: Hong Kong can consider taking the lead in the field of cryptoassets and strive for more initiative in the field of digital assets

Zhang Xiaojing, director of the Institute of Finance of the Chinese Academy of Social Sciences, said that Hong Kong can play a unique and important role as an international financial center, and suggested that Hong Kong should make bold innovations in the field of financial technology and digital finance, and consider taking the lead in the field of cryptoassets. Zhang Xiaojing pointed out that the more stable Hong Kong's status as an international financial center, the safer China's finance will be, which is very important. The United States is passing the "FIT21 (21st Century Financial Innovation and Technology Act) " legislation aimed at establishing a global standard regulatory framework and is likely to pass. Once the US regulatory framework is released, the world may compete to imitate it. China should also explore in this field, otherwise it may lose the initiative in the field of digital assets. It is necessary for Hong Kong to conduct important pilots in the field of digital assets and cryptocurrencies.