HKMA proposes strict stablecoin regime
Algorithm-based stablecoins more likely to be excluded beneath new guidelines, Hong Kong authorities say
The Hong Kong Financial Authority (HKMA) issued a session paper on December 27 outlining a stricter stablecoin regulation regime.
The HKMA issued the paper collectively with Hong Kong’s Monetary Companies and the Treasury Bureau, which basically features because the particular autonomous area’s finance ministry. The 2 authorities mentioned they intention to vary the regulatory regime in gentle of the dangers posed by stablecoins primarily based on present currencies.
The HKMA mentioned stablecoins primarily based on arbitrage or an
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