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HKMA Strives to Submit Draft Legislation on Regulatory Regime for Stablecoin Issuers to LegCo by End-yr
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In its latest quarterly bulletin, the Hong Kong Monetary Authority (HKMA) said that, following the implementation of the licensing regime for virtual asset trading platforms (VATPs), the Financial Services and the Treasury Bureau (FSTB) and the HKMA are working full steam ahead on the draft legislation for implementing a regulatory regime for stablecoin issuers in Hong Kong and will strive to introduce the bill into the Legislative Council (LegCo) by the end of 2024. The HKMA believed early implementation of the regulatory regime can lay a solid foundation to foster innovations and help promote the healthy, responsible and sustainable development of stablecoin and the broader digital asset ecosystem in Hong Kong. AAStocks Financial News |
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