As a Wall Street quant with 7 years in blockchain analytics, I’m breaking down Hong Kong’s bold move to overhaul tokenized bond issuance and trading. With the财库局 and HKMA leading a full legal review, this isn’t just compliance—it’s infrastructure for the next generation of digital finance. Expect clarity on settlement, registry rules, and real-world asset digitization. Let’s cut through the noise and see what this means for institutions and investors.