The Hong Kong Securities and Futures Association brings forward a strategic proposal regarding the incorporation of ICO mechanisms within the upcoming budget allocations.

The Hong Kong The Securities and Futures Association (SFA) has put forth a detailed set of recommendations for enhancing the 2024-25 Budget, aiming to rejuvenate the financial environment in Hong Kong as the city emerges from the challenges posed by the pandemic. Their insights cover a variety of financial topics including tax reform and investment strategies. A significant element of their recommendations includes the proposition to adopt an ICO mechanism, a step towards aligning Hong Kong with the growing digital asset market and aiming for seamless integration. Islamic finance .

Moreover, the association has stressed the necessity of incorporating principles of Islamic finance, proposing the establishment of a dedicated committee to create guidelines that are tailored to fit within Hong Kong’s distinct financial framework. Hong Kong’s financial framework.

Updated Exchange Regulations in Hong Kong

The Association advocates for an in-depth assessment of numerous regulatory measures and the listing rules of the Stock Exchange.

This review encompasses adjustments to policies governing securities margin financing, corporate acquisitions, and tackling the challenges faced by small and medium enterprises. Securities and Futures Commission In addition to reforms in the financial markets, the association also suggests various strategies for economic recovery, which include reducing the scale of major infrastructure projects, altering transportation subsidies, and bringing back the Tenants Purchase Scheme. These proposals aim to relieve the financial burden on the government while promoting efficient governance practices.

The recommendations put forth by the Hong Kong Securities and Futures Association for the upcoming 2024-25 Budget demonstrate a holistic approach toward revitalizing Hong Kong's financial sector and ensuring it aligns with international advancements.

The suggestion to implement an ICO mechanism alongside the embrace of Islamic finance is notably significant, showcasing Hong Kong's willingness to evolve alongside the global financial shifts.

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Nik is a seasoned analyst and writer at Metaverse Post, dedicated to providing insightful commentary on the rapidly evolving tech landscape, with a special focus on AI and machine learning, extended reality, virtual reality, on-chain analytics, and blockchain advancements. His writings engage a wide readership, equipping them to stay ahead in technological innovations. With a Master's degree in Economics and Management, Nik possesses an in-depth understanding of the business sector's intersection with cutting-edge technologies.