{"id":3776,"date":"2025-08-05T11:02:45","date_gmt":"2025-08-05T03:02:45","guid":{"rendered":"https:\/\/theexchain.com\/hong-kongs-progressive-digital-asset-regulatory-framework-and-sandbox-practices-pave-the-way-for-global-innovation-hub-status\/"},"modified":"2025-08-05T11:02:45","modified_gmt":"2025-08-05T03:02:45","slug":"%e9%a6%99%e6%b8%af%e9%80%b2%e6%ad%a5%e7%9a%84%e6%95%b8%e4%bd%8d%e8%b3%87%e7%94%a2%e7%9b%a3%e7%ae%a1%e6%a1%86%e6%9e%b6%e5%92%8c%e6%b2%99%e7%9b%92%e5%af%a6%e8%b8%90%e7%82%ba%e5%85%a8%e7%90%83%e5%89%b5","status":"publish","type":"post","link":"https:\/\/theexchain.com\/zh\/%e9%a6%99%e6%b8%af%e9%80%b2%e6%ad%a5%e7%9a%84%e6%95%b8%e4%bd%8d%e8%b3%87%e7%94%a2%e7%9b%a3%e7%ae%a1%e6%a1%86%e6%9e%b6%e5%92%8c%e6%b2%99%e7%9b%92%e5%af%a6%e8%b8%90%e7%82%ba%e5%85%a8%e7%90%83%e5%89%b5\/","title":{"rendered":"\u9999\u6e2f\u9032\u6b65\u7684\u6578\u4f4d\u8cc7\u7522\u76e3\u7ba1\u67b6\u69cb\u548c\u6c99\u76d2\u5be6\u8e10\u70ba\u8d0f\u5f97\u5168\u7403\u5275\u65b0\u6a1e\u7d10\u5730\u4f4d\u92ea\u8def"},"content":{"rendered":"<p>{\"Introduction\": \"\u9999\u6e2f\u5df2\u7d93\u5efa\u7acb\u4e86\u4e00\u500b\u5168\u9762\u7684\u6578\u4f4d\u8cc7\u7522\u76e3\u7ba1\u6846\u67b6\uff0c\u8f14\u4ee5\u958b\u5275\u6027\u7684\u6c99\u76d2\u4f7f\u7528\u6848\u4f8b\uff0c\u5c55\u793a\u4e86\u5728\u5408\u898f\u7bc4\u570d\u5167\u8b93\u5275\u65b0\u84ec\u52c3\u767c\u5c55\u7684\u660e\u78ba\u9014\u5f91\u3002\u6b63\u5982\u300a\u9999\u6e2f\u6578\u78bc\u8cc7\u7522\u767c\u5c55\u653f\u7b56\u8072\u660e 2.0\u300b\u4e2d\u6240\u6982\u8ff0\u7684\uff0c\u8a72\u5730\u5340\u6b63\u5728\u5efa\u7acb\u4e00\u500b \u300c\u53ef\u4fe1\u8cf4\u7684\u3001\u4ee5\u5275\u65b0\u70ba\u91cd\u9ede\u7684\u6578\u78bc\u8cc7\u7522\u751f\u614b\u7cfb\u7d71\u300d\uff0c\u4ee5\u978f\u56fa\u5176\u5728\u6578\u78bc\u8cc7\u7522\u9818\u57df\u7684\u5168\u7403\u9818\u5148\u5730\u4f4d\uff0c\u4e26\u5c07\u81ea\u8eab\u5b9a\u4f4d\u70ba\u5168\u7403\u5275\u65b0\u4e2d\u5fc3\u3002\", \"subsections\":[{\"title\": \u300c\u9999\u6e2f\u7684\u6578\u78bc\u8cc7\u7522\u767c\u5c55\u4e4b\u65c5\u300d, \"subsections\":[{\"title\": \"Prelude\uff1aChina's \\\"Pause\\\" vs. Global \\\"Fast Forward\\\" (2017-2022)\", \"content\": \u300c2017\u5e74\uff0c\u4e2d\u570b\u5927\u9678\u5be6\u65bd\u4e86\u56b4\u683c\u7684\u653f\u7b56\u4f86\u505c\u6b62\u865b\u64ec\u8cc7\u7522\u5e02\u5834\u6d3b\u52d5\uff0c\u6709\u6548\u5730\u5c0d\u6578\u5b57\u8cc7\u7522\u767c\u5c55\u65bd\u52a0\u4e86 \u300dpause\"\u3002\u9019\u5305\u62ec\u7981\u6b62\u9996\u6b21\u4ee3\u5e63\u767c\u884c\uff08ICO\uff09\u548c\u95dc\u9589\u570b\u5167\u865b\u64ec\u8ca8\u5e63\u4ea4\u6613\u5e73\u53f0\u3002\u9019\u4e9b\u63aa\u65bd\u65e8\u5728\u964d\u4f4e\u5e02\u5834\u98a8\u96aa\u548c\u7dad\u6301\u91d1\u878d\u7a69\u5b9a\u3002\u76f8\u53cd\uff0c\u9999\u6e2f\u63a1\u53d6\u4e86\u4e00\u500b\u66f4\u5fae\u5999\u7684\u65b9\u6cd5\uff0c\u65e2\u5145\u7576\u4e86\u9632\u6b62\u98a8\u96aa\u5916\u6ea2\u7684 \u300c\u9632\u706b\u7246\u300d\uff0c\u53c8\u5145\u7576\u4e86\u5168\u7403 Web3 \u767c\u5c55\u7684 \u300c\u89c0\u5bdf\u54e8\u300d\u3002\u9999\u6e2f\u91d1\u878d\u7ba1\u7406\u5c40\uff08HKMA\uff09\u65bc 2016 \u5e74\u63a8\u51fa\u4e86\u300c\u91d1\u878d\u79d1\u6280\u76e3\u7ba1\u6c99\u76d2\u300d\uff0c\u96a8\u5f8c\u8b49\u5238\u53ca\u671f\u8ca8\u4e8b\u52d9\u76e3\u5bdf\u59d4\u54e1\u6703\uff08SFC\uff09\u548c\u4fdd\u96aa\u696d\u76e3\u7763\uff08HKIA\uff09\u4e5f\u63a8\u51fa\u4e86\u985e\u4f3c\u63aa\u65bd\u3002\u5230 2017 \u5e74\uff0c\u9019\u4e9b\u6c99\u76d2\u5347\u7d1a\u70ba\u300c\u6c99\u76d2 2.0\u300d\uff0c\u4ee5\u9032\u884c\u8de8\u884c\u696d\u5354\u8abf\u3002\u6b64\u5916\uff0c\u91d1\u7ba1\u5c40\u958b\u5c55\u4e86\u5c0d\u4e2d\u592e\u9280\u884c\u6578\u5b57\u8ca8\u5e63\uff08CBDCs\uff09\u548c\u4ee3\u5e63\u5316\u5be6\u9ad4\u8cc7\u7522\uff08RWAs\uff09\u7684\u7814\u7a76\uff0c\u5305\u62ec\u300ce-HKD\u300d\u9805\u76ee\u548c\u4ee3\u5e63\u5316\u7da0\u8272\u50b5\u5238\u8a66\u9a57\u9805\u76ee\u300cProject Genesis\u300d\u3002\"},{\"title\": \"Strategic Moves\uff1aHong Kong's \\\"Opening\\\" and Intentions (2023-2025)\", \"content\": \"\u5f9e 2022 \u5e74\u5e95\u5230 2023 \u5e74\uff0c\u9999\u6e2f\u7684\u6578\u78bc\u8cc7\u7522\u653f\u7b56\u6a19\u8a8c\u8457\u4e00\u500b\u95dc\u9375\u6027\u7684\u8f49\u8b8a\u3002\u653f\u5e9c\u5728 2022 \u5e74 10 \u6708\u767c\u5e03\u4e86\u300a\u865b\u64ec\u8cc7\u7522\u767c\u5c55\u653f\u7b56\u5ba3\u8a00\u300b\uff0c\u6a19\u8a8c\u8457\u5f9e\u98a8\u96aa\u8ff4\u907f\u578b\u76e3\u7ba1\u5411\u6a5f\u6703\u9a45\u52d5\u578b\u76e3\u7ba1\u7684\u904e\u6e21\u3002\u96a8\u5f8c\uff0c\u300a\u6253\u64ca\u6d17\u9322\u53ca\u6050\u6016\u5206\u5b50\u8cc7\u91d1\u7c4c\u96c6\uff08\u4fee\u8a02\uff09\u689d\u4f8b\u300b\u7372\u5f97\u901a\u904e\uff0c\u4e26\u65bc 2023 \u5e74 6 \u6708\u5efa\u7acb\u4e86\u865b\u64ec\u8cc7\u7522\u670d\u52d9\u63d0\u4f9b\u5546\uff08VASP\uff09\u5f37\u5236\u767c\u724c\u5236\u5ea6\u3002\u5229\u7528\u5176 \u300c\u4e00\u570b\u5169\u5236 \u300d\u6846\u67b6\uff0c\u9999\u6e2f\u65e8\u5728\u5e73\u8861\u570b\u969b\u91d1\u878d\u4e2d\u5fc3\u7684\u8cac\u4efb\u548c\u5167\u5730\u91d1\u878d\u5b89\u5168\u7684\u8003\u616e\u3002\"}]},{\"title\": \u300c\u9999\u6e2f\u7684 \u300d\u96d9\u5cf0 \"\u76e3\u7ba1\u6846\u67b6\u76e3\u7ba1\u6846\u67b6\", \"content\": \u300c\u9999\u6e2f\u7684\u6578\u78bc\u8cc7\u7522\u76e3\u7ba1\u9ad4\u7cfb\u63a1\u7528\u4e86 \u300d\u96d9\u5cf0 \"\u6a21\u5f0f\uff0c\u8b49\u76e3\u6703\u8ca0\u8cac\u76e3\u7ba1\u6295\u8cc7\u65b9\u9762\uff0c\u800c\u91d1\u7ba1\u5c40\u5247\u5c08\u6ce8\u65bc\u652f\u4ed8\u529f\u80fd\u3002\u9019\u7a2e\u5408\u4f5c\u65b9\u5f0f\u5728\u4fc3\u9032\u91d1\u878d\u5275\u65b0\u7684\u540c\u6642\uff0c\u4e5f\u78ba\u4fdd\u4e86\u5c0d\u6295\u8cc7\u8005\u7684\u6709\u529b\u4fdd\u8b77\u3002\"},{\"title\": \"\u6838\u5fc3\u8981\u7d20\uff1aVASP Licensing and Stablecoin Regulation\", \"subsections\":[{\"title\": \"VASP Licensing\uff1a\u4fdd\u969c\u4ea4\u6613\u5e73\u53f0\", \"content\": \"2023 \u5e74 6 \u6708\u751f\u6548\u7684\u865b\u64ec\u8cc7\u7522\u4ea4\u6613\u5e73\u53f0\u767c\u724c\u5236\u5ea6\u898f\u5b9a\uff0c\u6240\u6709\u5728\u9999\u6e2f\u71df\u904b\u7684\u96c6\u4e2d\u5f0f\u865b\u64ec\u8cc7\u7522\u4ea4\u6613\u5e73\u53f0\uff08VATPs\uff09\u5fc5\u9808\u53d6\u5f97\u724c\u7167\u3002\u4e3b\u8981\u8981\u6c42\u5305\u62ec\uff1a\\n- ** \u6295\u8cc7\u8005\u4fdd\u8b77\uff1a** \u5e73\u53f0\u5fc5\u9808\u8a55\u4f30\u6563\u6236\u6295\u8cc7\u8005\u7684\u77e5\u8b58\u4e26\u62ab\u9732\u98a8\u96aa\u3002\\n- **AML\/CFT Compliance:** Strict know-your-customer (KYC) and transaction monitoring measures are enforced.\\n-**\u4ee3\u5e63\u4e0a\u5e02\u6a19\u6e96\uff1a** \u7368\u7acb\u7684\u59d4\u54e1\u6703\u5be9\u67e5\u4ee3\u5e63\u7684\u5408\u6cd5\u6027\u548c\u6d41\u52d5\u6027\u3002\"},{\"title\": \"Stablecoin Regulation\uff1a\u78ba\u4fdd\u7a69\u5b9a\u6027\", \"content\": \"\u91d1\u7ba1\u5c40\u4e3b\u5c0e\u7684\u7a69\u5b9a\u5e63\u6846\u67b6\u65bc 2025 \u5e74 8 \u6708 1 \u65e5\u751f\u6548\uff0c\u91dd\u5c0d\u6cd5\u5e63\u652f\u6301\u7684\u7a69\u5b9a\u5e63\u3002\u767c\u884c\u5546\u5fc5\u9808\u7dad\u6301 1:1 \u7684\u5132\u5099\uff0c\u63a5\u53d7\u7b2c\u4e09\u65b9\u5be9\u8a08\uff0c\u4e26\u5efa\u7acb\u53ef\u9760\u7684\u8d16\u56de\u6a5f\u5236\u3002\u7b97\u6cd5\u578b\u7a69\u5b9a\u5e63\u56e0\u7f3a\u4e4f\u8cc7\u7522\u652f\u6301\u800c\u88ab\u6392\u9664\u5728\u5916\uff1aA Pathway to Compliance\", \"content\": \"Hong Kong's sandbox mechanism allows firms to test innovations in a controlled environment.\u904e\u7a0b\u5305\u62ec\uff1a \\n1.**\u6e96\u5099\uff1a** \u516c\u53f8\u5728\u63d0\u4ea4\u4e4b\u524d\u5b8c\u5584\u696d\u52d9\u6a21\u5f0f\u548c\u5408\u898f\u6846\u67b6\u3002**\u6e2c\u8a66\uff1a** \u901a\u904e\u6578\u64da\u5171\u4eab\u548c\u8fed\u4ee3\u8abf\u6574\u8207\u76e3\u7ba1\u6a5f\u69cb\u6df1\u5165\u5408\u4f5c\u3002**\u8a55\u4f30\uff1a** \u9ad8\u7562\u696d\u6a19\u6e96\u78ba\u4fdd\u53ea\u6709\u6e96\u5099\u5c31\u7dd2\u7684\u516c\u53f8\u624d\u80fd\u7372\u5f97\u57f7\u7167\u3002\"},{\"title\": \"Sandbox Use Cases\uff1a\u929c\u63a5\u5275\u65b0\u8207\u76e3\u7ba1\", \"subsections\":[{\"title\": \"\u7a69\u5b9a\u5e63\u6c99\u76d2\uff1a\u771f\u5be6\u4e16\u754c\u7684\u61c9\u7528\", \"content\": \"\u503c\u5f97\u6ce8\u610f\u7684\u53c3\u8207\u8005\u5305\u62ec JD CoinChain Technology\u3001RD Technologies \u4ee5\u53ca\u7531\u6e23\u6253\u9280\u884c\u9818\u5c0e\u7684\u8ca1\u5718\u3002\u9019\u4e9b\u5be6\u9ad4\u5c08\u6ce8\u65bc\u8de8\u5883\u652f\u4ed8\u3001\u865b\u64ec\u8cc7\u7522\u4ea4\u6613\u548c\u96f6\u552e\u652f\u4ed8\u89e3\u6c7a\u65b9\u6848\u3002\"},{\"title\": \"Ensemble Sandbox: Tokenized Financial Infrastructure\", \"content\": \"Ensemble \u5021\u8b70\u4e0b\u7684\u9805\u76ee\u5305\u62ec\uff1a\\n- **\u7da0\u8272\u91d1\u878d\uff1a**\u4ee3\u5e63\u5316\u7684\u53ef\u518d\u751f\u80fd\u6e90\u8cc7\u7522\uff08\u4f8b\u5982\u3001\\n- **\u8cbf\u6613\u91d1\u878d\uff1a**\u7528\u65bc\u9ad8\u6548\u8de8\u5883\u8cbf\u6613\u7684\u57fa\u65bc\u5340\u584a\u93c8\u7684\u96fb\u5b50\u63d0\u55ae\uff08eBLs\uff09\u3002\\n- **\u6d41\u52d5\u8cc7\u91d1\u7ba1\u7406\uff1a**\u4ee3\u5e63\u5316\u5b58\u6b3e\uff0c\u7528\u65bc\u4f01\u696d\u5eab\u52d9\u904b\u4f5c\u3002\"}]},{\"title\": \u300c\u672a\u4f86\u5c55\u671b\u300d, \"content\": \"\u96a8\u8457\u300a\u7a69\u5b9a\u5e63\u689d\u4f8b\u300b\u65bc 2025 \u5e74 8 \u6708 1 \u65e5\u751f\u6548\uff0c\u9999\u6e2f\u5df2\u6e96\u5099\u597d\u64f4\u5927\u7a69\u5b9a\u5e63\u61c9\u7528\u548c\u4ee3\u5e63\u5316\u91d1\u878d\u7522\u54c1\u3002\u5176\u4f5c\u70ba\u4e2d\u570b\u5927\u9678\u548c\u5168\u7403\u5e02\u5834\u7684\u6a4b\u6a11\u7684\u7368\u7279\u5730\u4f4d\uff0c\u52a0\u4e0a\u5065\u5168\u7684\u76e3\u7ba1\u6846\u67b6\uff0c\u4f7f\u9999\u6e2f\u6210\u70ba\u672a\u4f86\u6578\u4f4d\u8cc7\u7522\u548c\u4ee3\u5e63\u5316\u5be6\u9ad4\u8cc7\u7522\u7684\u9818\u5c0e\u8005\u3002\"}], \u300c\u514d\u8cac\u8072\u660e\u300d: \"\u672c\u6587\u6240\u8868\u9054\u7684\u89c0\u9ede\u50c5\u5c6c\u4f5c\u8005\u500b\u4eba\u89c0\u9ede\uff0c\u4e26\u4e0d\u69cb\u6210\u6295\u8cc7\u5efa\u8b70\u6216\u6cd5\u5f8b\u63a8\u85a6\u3002\uff5d<\/p>","protected":false},"excerpt":{"rendered":"<p>{&#8220;introduction&#8221;:&#8221;Hong Kong has established a comprehensive digital asset regulatory framework, complemented by pioneering sandbox use cases, demonstrating a clear pathway for innovation to thrive within compliance boundaries. As outlined in the \\&#8221;Hong Kong Digital Asset Development Policy Declaration 2.0,\\&#8221; the region is building a \\&#8221;trusted and innovation-focused digital asset ecosystem\\&#8221; to solidify its global leadership [&hellip;]<\/p>","protected":false},"author":1,"featured_media":3775,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[35],"tags":[],"class_list":["post-3776","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-insight"],"_links":{"self":[{"href":"https:\/\/theexchain.com\/zh\/wp-json\/wp\/v2\/posts\/3776","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/theexchain.com\/zh\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/theexchain.com\/zh\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/theexchain.com\/zh\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/theexchain.com\/zh\/wp-json\/wp\/v2\/comments?post=3776"}],"version-history":[{"count":0,"href":"https:\/\/theexchain.com\/zh\/wp-json\/wp\/v2\/posts\/3776\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/theexchain.com\/zh\/wp-json\/wp\/v2\/media\/3775"}],"wp:attachment":[{"href":"https:\/\/theexchain.com\/zh\/wp-json\/wp\/v2\/media?parent=3776"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/theexchain.com\/zh\/wp-json\/wp\/v2\/categories?post=3776"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/theexchain.com\/zh\/wp-json\/wp\/v2\/tags?post=3776"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}