The U.S. Senate, Hong Kong, and Nasdaq are taking steps to enhance crypto infrastructure aimed at attracting investors and increasing transparency in digital assets.
U.S. Crypto Market Legislation
Chairman of the U.S. Senate Banking Committee Tim Scott announced that the crypto market structure bill is expected to be finalized by September 30. The legislation will address core areas such as asset issuance, trading, and custody, aiming to bridge long-standing regulatory gaps between the SEC and CFTC. Collaboration with the House Financial Services Committee is ongoing to align both chambers’ versions of the bill.
Hong Kong's New Digital Asset Policy
On June 26, Hong Kong unveiled its updated digital asset policy framework, dubbed 'Policy Statement 2.0,' anchored by the 'LEAP' strategy—Legal clarity, Tokenized Economy, Application Scenarios, and People. The initiative outlines a unified regulatory regime, with stablecoin licensing set to begin in August. It also promotes tokenization of government bonds, ETFs, and gold, and encourages fintech innovation through funding and regulatory sandbox programs.
Nasdaq and Canton Network Integration
Nasdaq has integrated the Canton Network blockchain with its Calypso system to automate end-to-end margin and collateral workflows. The collaboration with QCP, Primrose Capital, and Digital Asset enables smart contract capabilities within institutional trading systems. This upgrade supports 24/7 operations and cross-asset collateral mobility with greater transparency.
According to the analysis, the successful passage of these initiatives and legislation could play a significant role in the development of the digital asset market and strengthen Hong Kong's position as a global crypto hub.
