HomeDIGITAL ASSETS REGULATORYworldwide-stablecoinHong Kong's Requirement for Stablecoin Issuers to Obtain License: Consultation Paper

Hong Kong’s Requirement for Stablecoin Issuers to Obtain License: Consultation Paper

The Hong Kong Monetary Authority (HKMA) has announced new criteria for obtaining a license, which now includes the requirement for stablecoins to be fully backed with reserves. These reserves must be equal to or greater than the par value of the stablecoins in circulation. This move aims to ensure the stability and reliability of stablecoins in Hong Kong’s financial system. By imposing this requirement, the HKMA is taking steps to protect consumers and promote trust in the use of stablecoins as a means of payment and store of value.

Read more

PHP Code Snippets Powered By : XYZScripts.com