Stablecoin

Coin

<ul class="news-points"> 
 <li>The Hong Kong Monetary Authority and the Financial Services and Treasury Bureau jointly launched a public consultation on stablecoins.</li> 
 <li>The consultation aims to gather insights on a proposed legislative framework for regulating issuers of stablecoins.</li> 
 <li>The proposed framework, based on a risk-based and agile approach, includes a licensing regime.</li> 
</ul> 
The Hong Kong Monetary Authority (HKMA) and the Financial Services and Treasury Bureau (FSTB) are collecting public comment on a <a href="https://www.info.gov.hk/gia/general/202312/27/P2023122700279.htm?fontSize=1" target="_blank" rel="nofollow">proposed legal framework</a> for regulating stablecoin issuers.&nbsp; 
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 <img decoding="async" width="605" height="322" src="https://coinedition.com/wp-content/uploads/2023/12/Hong-Kong-Goverment.png" alt="" class="wp-image-357942" style="width: 100%;height:auto" srcset="https://coinedition.com/wp-content/uploads/2023/12/Hong-Kong-Goverment.png 605w, https://coinedition.com/wp-content/uploads/2023/12/Hong-Kong-Goverment-300x160.png 300w, https://coinedition.com/wp-content/uploads/2023/12/Hong-Kong-Goverment-380x202.png 380w, https://coinedition.com/wp-content/uploads/2023/12/Hong-Kong-Goverment-159x85.png 159w, https://coinedition.com/wp-content/uploads/2023/12/Hong-Kong-Goverment-440x234.png 440w, https://coinedition.com/wp-content/uploads/2023/12/Hong-Kong-Goverment-414x220.png 414w, https://coinedition.com/wp-content/uploads/2023/12/Hong-Kong-Goverment-310x165.png 310w, https://coinedition.com/wp-content/uploads/2023/12/Hong-Kong-Goverment-377x201.png 377w, https://coinedition.com/wp-content/uploads/2023/12/Hong-Kong-Goverment-123x65.png 123w, https://coinedition.com/wp-content/uploads/2023/12/Hong-Kong-Goverment-129x69.png 129w" sizes="(max-width: 605px) 100vw, 605px">
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 <a href="https://twitter.com/WuBlockchain/status/1739913683881623570" target="_blank" rel="nofollow">Hong Kong Proposes</a>
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As <a href="https://coinedition.com/what-is-a-stablecoin/">stablecoins</a> are increasingly playing a vital role in bridging the gap between traditional finance and virtual assets, the Hong Kong government thinks it is necessary to regulate them. Utilizing a flexible and risk-based approach, the suggested framework aims to control threats to monetary and financial stability. 
The proposal establishes a licensing system that requires fiat-referenced stablecoin (FRS) issuers to fulfill particular requirements in order to get a license from the Monetary Authority (MA). Furthermore, the proposed framework stipulates that only certain licensed firms may provide FRs, and ret…
The post <a href="https://coinedition.com/hong-kong-proposes-regulatory-framework-for-stablecoin-issuers/">Hong Kong Proposes Regulatory Framework for Stablecoin Issuers</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

Hong Kong Proposes Regulatory Framework for Stablecoin Issuers

Coin Edition

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Hong Kong proposes licensing for fiat-referenced stablecoins

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