Hong Kong Government Explores Regulatory Framework for Stablecoin
Chen Haolian, Deputy Director of the Hong Kong Financial Services and Treasury Bureau, recently announced that the government has conducted a public consultation on the launch of stablecoins and aims to establish a regulatory framework by the end of next year.
The Hong Kong government actively participates in the virtual asset value chain and supports industry development. They have issued a policy declaration on virtual asset development and implemented a “same business, same risk, and same rules” principle for supervision, ensuring investor protection and compliance with international standards.
At the same time, the Hong Kong Legislative Council actively seeks to attract global crypto companies to the region, demonstrating their commitment to industry growth.
Chen Haolian also emphasized the government’s focus on developing Internet 3.0. Hong Kong has seen exponential growth in the number of fintech companies, with over 800 offering diversified services such as virtual banking, virtual insurance, and virtual asset transactions. The government warmly welcomes industry players and talents to come to Hong Kong.
The Hong Kong Monetary Authority will gradually establish a regulatory framework for stablecoins, aiming to launch it before the end of next year. The government’s support for the virtual asset industry and the issuance of tokenized green bonds earlier this year reflect their unwavering commitment to the sector.
At the same time, the Hong Kong Legislative Council actively seeks to attract global crypto companies to the region, demonstrating their commitment to industry growth.
Chen Haolian also emphasized the government’s focus on developing Internet 3.0. Hong Kong has seen exponential growth in the number of fintech companies, with over 800 offering diversified services such as virtual banking, virtual insurance, and virtual asset transactions. The government warmly welcomes industry players and talents to come to Hong Kong.
The Hong Kong Monetary Authority will gradually establish a regulatory framework for stablecoins, aiming to launch it before the end of next year. The government’s support for the virtual asset industry and the issuance of tokenized green bonds earlier this year reflect their unwavering commitment to the sector.
