Hong Kong’s government is in a rush to bring its stablecoin legislation into force. On 21 May the legislature approved the new law, and days later the Hong Kong Monetary Authority (HKMA) launched a consultation regarding the detailed rules, which runs until the end of June. Today the government published an ordinance signalling plans for…
Today Hong Kong’s Legislative Council passed the Stablecoin Bill for fiat-referenced stablecoins. The legislation is expected to come into force later this year and is seen as a key pillar in Hong Kong’s desire to maintain and enhance its position as an international financial center. Last year the Hong Kong Monetary Authority (HKMA) launched a…
Euroclear has joined Project Ensemble, the wholesale central bank digital currency (wCBDC) initiative from the Hong Kong Monetary Authority (HKMA). The project explores using wCBDC for the settlement of tokenization transactions and for interbank settlement of tokenized deposits. Euroclear becomes a member of the Architecture Community and is the sole financial market infrastructure (FMI) community…
On Friday the Hong Kong government published its Stablecoins Bill in the Gazette, with plans for its first reading on December 18. The legislation covers fiat-referenced stablecoins. “We have undertaken extensive consultations and given due consideration to the views of the industry when formulating the details of the regulatory regime,” said Eddie Yue, CEO of…
It was a long, grueling path for many in the crypto world, but it finally happened: The price of bitcoin crossed the $100,000 mark for the first time. Beyond making bitcoin holders quite happy, given the digital currency has risen more than 50% in the past two months, the milestone reached on Wednesday provided some…
Bitcoin climbed above $93,000 to set a new all-time high. (Photo by Marco Bello/Getty Images) Getty Images Bitcoin prices rose sharply on Wednesday, November 13, blowing past the $90,000 level and setting a new record as the digital currency benefited from rising demand. The world’s most prominent cryptocurrency, which had a total market value of…
Bitcoin prices neared the $90,000 price level today. getty Bitcoin prices continued their sharp, upward trajectory on Monday, November 11, approaching $90,000 as the world’s most prominent digital currency attained its latest all-time high. The cryptocurrency, which has been generating substantial visibility and widespread headlines for several years now, reached $89,600, according to Coinbase data…