Speaking at a closed-door workshop in Davos, Finance Secretary Paul Chan said digital assets require regulatory guardrails alongside innovation.
Hong Kong Finance Secretary Paul Chan defended the city’s “same activity, same risk, same regulation” framework for digital assets while speaking at the World Economic Forum in Davos, according to the South China Morning Post.
Speaking at a closed-door workshop in Switzerland on Tuesday, Chan said finance and technology were increasingly intertwined but required a balanced regulatory approach. He said:
Chan pointed to the city’s “same activity, same risk, same regulation” principle for digital assets, which he said guides how the sector is regulated. The principle means digital asset businesses are regulated according to the risks of their activities rather than the technology they use.
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