(Original title: Dubai officials said they are discussing cooperation with Hong Kong in the field of virtual assets but did not disclose the timetable for cooperation advancement)
Opinion newsletter:According to news on April 20, Hadi Badri, executive director of the Dubai Ministry of Economy and Tourism, said that the mainland has become the largest trading partner of the UAE, and Hong Kong is also one of the important trading partners. He believes that the relationship between the two sides is close, and the UAE has become a gateway for China to enter the Middle East market.
Hadi Badri pointed out that the two parties can cooperate in trade, investment, digital transformation and financial services, and revealed that Dubai is discussing cooperation with Hong Kong in the field of virtual assets, including the license pass program. He believes that Hong Kong has a positive attitude towards virtual asset supervision, but did not disclose the timetable for advancing the cooperation.
Previously, on October 31, 2022, the SAR government issued the “Policy Declaration on the Development of Virtual Assets in Hong Kong” (referred to as the “Declaration”), clarifying the government’s policy position for the development of a dynamic virtual asset industry and ecosystem in Hong Kong and policy. Prior to this, the SAR government had expressed its vision to become a global virtual asset center.
The “Declaration” clarifies that Hong Kong will adopt an open and inclusive attitude towards global innovators engaged in virtual asset business. The SAR government is working with financial regulators to create a favorable environment to promote the sustainable and responsible development of Hong Kong’s virtual asset industry. Hong Kong will formulate the necessary regulations in due course to mitigate actual and potential risks in accordance with international standards, so that virtual assets can flourish in a sustainable manner in Hong Kong.
