Hong Kong’s regulator approves HKVAX in principle!

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The Securities and Futures Commission (SFC) of Hong Kong has granted in-principle approval to HKVAX, a proposed digital securities platform, to operate under its regulatory sandbox. The platform, which is a joint venture between Tencent and the Hong Kong Stock Exchange, aims to offer a regulated platform for the issuance, trading, and settlement of digital securities. The regulatory sandbox is designed to enable firms to test innovative financial technologies in a controlled environment before full-scale deployment. The approval of HKVAX is seen as a significant step forward for the development of the digital securities market in Hong Kong.