Hong Kong Regulators Plan to Present Stablecoin Bill to Legislative Council Later This Year
Hong Kong's financial regulators have announced their plans to present a bill on fiat-referenced stablecoins to the Legislative Council later this year, following the publication of the conclusions from their consultation on a stablecoin regime. The stablecoin regime will primarily focus on representations of value that are operated in a decentralised manner, with no person having the unilateral authority to control or materially alter its functionality or operation. Any person who issues a stablecoin in Hong Kong must obtain a license, and foreign entities intending to apply for a license will be required to establish a Hong Kong subsidiary and have key management personnel in the territory. The HKMA is processing applications for the stablecoin issuer sandbox and will announce more shortly.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Memecoin ETFs Predicted by 2026: Analyst Identifies Single Challenge Ahead
Bloomberg Analyst Foresees 2026 Debut for Active Memecoin ETFs, Pending Regulatory Approval: Are Investors Ready for This New Frontier in Crypto?

Ethereum, Ripple, Cardano Show Gains Amid Market Buoyancy
Crypto Market Volatility Highlights Cautious Optimism Among Investors
SkyX Network Proposes Decentralized AI Weather Solutions
Trending news
MoreCrypto prices
More








