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<ul><li>Hong Kong politician Duncan Chiu believes that regulations for stablecoins could be unveiled in mid-2024.</li><li>Lawmakers in Hong Kong are currently engaged in the second round of consultation for stablecoin regulations.</li><li>Chiu’s comments came during the 2023 Shanghai Blockchain International Week.</li></ul>Hong Kong lawmaker Duncan Chiu recently stated that a regulatory regime for stablecoins could be introduced by mid-2024. According to Chiu, politicians in Hong Kong were engaged in the second round of consultation for stablecoin regulation and issuance guidance. The lawmaker’s comments came during the 2023 Shanghai Blockchain International Week.According to a <a href="https://www.jinse.cn/blockchain/3659208.html" rel="noopener noreferrer nofollow">report</a> by local media, the blockchain summit was attended by several notable personalities from Hong Kong, including Legislative Council member Qiu Dagen, CEO of Hong Kong Cyberport Management Ren Jingxin, and Chairman of Wanxiang Blockchain Xiao Feng. Feng told the press that the next three years would be crucial for large-scale applications of blockchain and web3.Chiu added that the clarity surrounding stablecoin regulations in Hong Kong would attract crypto firms to the region to issue stablecoins. According to the lawmaker, the presence of leading stablecoin firms would aid the issuing of the digital Hong Kong Dollar (HKGD), and enable asset tokenization in the city-state.Read full article at<a href="https://cryptotale.org/hong-kong-hopes-to-introduce-stablecoin-regulations-by-next-year/" rel="noopener noreferrer nofollow"> CryptoTale.</a>

Hong Kong Hopes To Introduce Stablecoin Regulations By Next Year

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