Caixin: Hong Kong tokenized ETFs will enjoy stamp duty exemption

Odaily Planet Daily News: The Financial Services and the Treasury Bureau of Hong Kong released the "Hong Kong Digital Asset Development Policy Declaration 2.0" today, which pointed out that the Hong Kong government will increase efforts to expand tokenization schemes, promote the tokenization of a wider range of assets and financial instruments, and showcase the diverse applications of this technology in different sectors, including precious metals (such as gold), non-ferrous metals, and renewable energy such as solar panels. At present, all exchange traded funds (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. This is equivalent to clarifying the stamp duty situation of tokenized ETFs after allowing secondary market transactions in the future. The Policy Declaration 2.0 has also made it clear that market participants are welcome to explore the advantages of tokenizing ETFs, including introducing them for secondary market trading on licensed digital asset trading platforms or other platforms. (Caixin)