DeFi
Hong Kong Monetary Authority releases reports on DeFi and metaverse in finance
The Hong Kong Institute of Monetary and Financial Research (HKIMR), the research arm of the Hong Kong Academy of Finance (AoF), has released two new applied research reports titled “Decentralised Finance: Current Landscape and Regulatory Developments” and “The Metaverse: Opportunities and Challenges for the Financial Services Industry”.
Exploring DeFi and the Metaverse
These reports delve into cutting-edge decentralized finance (DeFi) and metaverse technologies, providing a comprehensive analysis of their applications in the financial services industry. They provide an overview of international and Hong Kong-specific regulatory environments and summarize the results of surveys and interviews with local market practitioners.
According to the Hong Kong Monetary Authority (HKMA), respondents indicated strong interest in leveraging DeFi and metaverse applications, with many exploring opportunities within the virtual asset ecosystem. The reports aim to facilitate the healthy development and application of these technologies in Hong Kong’s financial services sector.
Key information and future outlook
Enoch Fung, Managing Director of AoF and Executive Director of HKIMR, highlighted the potential of DeFi and the metaverse to bring various opportunities to Hong Kong’s financial services sector. “These emerging technologies, closely linked to broader developments in virtual assets and Web3, will likely offer valuable insights to market participants and regulators, helping to inform future policy initiatives and market innovations for the digital ecosystem of Hong Kong,” Fung said.
For detailed understanding, the reports are available on the AoF/HKIMR websites: DeFi Report And Metaverse Report.
About Hong Kong Academy of Finance (AoF)
The AoF is a collaborative initiative involving the Hong Kong Monetary Authority, the Securities and Futures Commission, the Insurance Authority and the Mandatory Provident Fund Schemes Authority. Its aim is to be a centre of excellence for financial leadership development and a repository of knowledge in monetary and financial research, including applied research.
About the Hong Kong Institute of Monetary and Financial Research (HKIMR)
The HKIMR, as the research arm of the AoF, focuses on conducting research on monetary policy, banking and finance that is strategically important to Hong Kong and the Asia region. Its applied research studies target topics of high relevance to Hong Kong’s financial sector and regulators, providing insight into the long-term development strategy and direction of Hong Kong’s financial sector.
The Hong Kong Institute of Monetary and Financial Research (HKIMR) releases two new applied research reports on DeFi and the metaverse. Enoch Fung, CEO of AoF and Executive Director of HKIMR (left), and Giorgio Valente, Head of HKIMR (right), host a press conference to share the key findings.
Image source: Shutterstock