The government will enact the new legislation to bring issuers of fiat-referencing stablecoins into the regulatory perimeter. On 17 July 2024, the Financial Services and the Treasury Bureau and the Hong Kong Monetary...more
Implementation of Basel Committee cryptoassets standard to provide additional clarity for banks looking to engage in cryptoassets business. On 7 February 2024, the Hong Kong Monetary Authority (HKMA) released a...more
On 27 December 2023, the Hong Kong Financial Services and the Treasury Bureau (FSTB) and the Hong Kong Monetary Authority (HKMA) jointly issued a consultation paper (the Consultation) proposing regulatory regime for...more
Hong Kong has seen cryptocurrencies grow in popularity, highlighting the need for appropriate licensing regimes (implemented in the form of virtual asset service providers (VASPs)), bolstered by active enforcement actions. ...more
The proposed regulatory framework would create substantive obligations on issuers of fiat-referencing stablecoins to safeguard the public. On 27 December 2023, the Financial Services and the Treasury Bureau (FSTB) and...more
The Hong Kong Monetary Authority (HKMA) on 12 January 2022 issued a discussion paper on Crypto-assets and Stablecoins. The HKMA received over 50 responses from the public and issued its "Conclusion on Discussion Paper on...more
In January 2022, the Hong Kong Monetary Authority issued a Discussion Paper on Crypto-assets and Stablecoins, inviting industry comments on the regulatory approach of crypto-assets, in particular payment-related stablecoins....more
The HKMA’s discussion paper seeks feedback on its proposed regulatory approach to stablecoins, with responses due by 31 March 2022. On 12 January 2022, the Hong Kong Monetary Authority (HKMA), Hong Kong’s principal...more
The Hong Kong Monetary Authority has issued a Discussion Paper on Crypto-assets and Stablecoins in January 2022. The Discussion Paper includes guiding principles of a contemplated regulatory regime for payment-related...more