With the rapid development of financial technology, especially in the fields of Web3 and virtual assets, the Financial Services and the Treasury Bureau of Hong Kong, in collaboration with the Hong Kong Monetary Authority, have jointly released legislative proposals on regulatory regimes for stablecoin issuers. This marks a new milestone for Hong Kong in the regulation of virtual assets.
Hong Kong Launches Stablecoin Regulation: Entering Public Consultation and Innovative "Sandbox" Program