The Hong Kong government is seeking public input on legislation for the supervision of stablecoins. The Financial Services and Treasury Bureau (FSTB) and the Hong Kong Monetary Authority (HKMA) have introduced a public consultation paper outlining a legislative proposal to regulate stablecoin issuers. The consultation period will run from December 27, 2023, to February 29, 2024, and industry participants and the general public are encouraged to provide comments on the proposal. The proposed regulatory regime aims to address risks associated with stablecoins and establish guidelines for the virtual asset landscape. Key features of the proposed framework include the introduction of a licensing regime for issuers of fiat-referenced stablecoins (FRS) and restrictions on advertising by unlicensed entities. The regulatory framework also allows for adjustments to stablecoin parameters and activities in response to market developments. The Hong Kong Monetary Authority has also launched a sandbox initiative to gather feedback and provide guidance for entities interested in issuing stablecoins in Hong Kong. This regulatory development is part of Hong Kong's broader efforts to establish a comprehensive framework for virtual assets and stablecoins.
Подпишитесь на нашу рассылку и получайте информацию о выходе новых статей, информацию об эксклюзивных скидках и другое
Или же подпишитесь на наш Telegram, чтоб всегда быть в курсе наших новостей.