Hong Kong’s Financial Secretary Paul Chan outlined plans for a second digital asset innovation push in a blog post over the weekend. After the first policy statement in 2022 formalized its approach to cryptocurrencies, it is planning to announce its future strategy soon. It sounds like the focus could be on digital securities and tokenized…
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…
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…