Hong Kong plans to introduce a licensing regime for stablecoin issuers, regulated by the Hong Kong Monetary Authority.
Hong Kong plans to introduce a licensing regime for stablecoin issuers, requiring them to obtain a license from the Hong Kong Monetary Authority. Following a public consultation, the Financial Services and the Treasury Bureau, along with the Hong Kong Monetary Authority, announced final recommendations for a local stablecoin law on July 17. The regulatory framework aims to manage potential risks to monetary and financial stability and ensure transparent and effective oversight.
July 17, 2024
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