

The Financial Services and the Treasury Bureau (FSTB) announced today that it will soon publish the findings from a thorough consultation on stablecoin issuers.
Hong Kong is preparing to announce its position on stablecoins, a move that could significantly impact the development of the cryptocurrency sector.
On Friday, the Financial Services and the Treasury Bureau (FSTB) announced the upcoming release of the consultation results on stablecoin issuers, which was conducted in December 2023. This will inform the creation of a regulatory framework for the digital assets.
The December consultation proposed a licensing regime for all fiat-backed stablecoin issuers. In other words, any entity issuing stablecoins pegged to traditional currencies, such as the US dollar (USD), will require authorization from the Hong Kong Monetary Authority (HKMA), the city's de facto central bank.
According to the FSTB, only licensed entities will be permitted to sell stablecoins to retail investors. This includes authorized institutions such as banks, licensed corporations, and cryptocurrency trading platforms. The proposed regulations outline requirements for reserve management, stability mechanisms, redemption processes, and corporate governance to ensure a safe and sound environment for both issuers and users.
Sandbox Initiative Fuels Stablecoin Growth
The upcoming regulatory framework builds on the successful launch of the HKMA's stablecoin sandbox program in March 2024. This initiative allows qualified firms to test and refine their stablecoin offerings in a controlled environment.
HKMA's chief executive, Eddie Yue, highlighted the sandbox's role in "facilitating the formulation of fit-for-purpose and risk-based regulatory requirements." These regulations are crucial for fostering the healthy and responsible growth of stablecoin issuance in Hong Kong.
Market participants are upbeat about the prospects in Hong Kong. In March, Vincent Chok, CEO of First Digital and the issuer of the FDUSD stablecoin, expressed optimism, stating that the company had observed "good" market demand. He also noted that many players are keen on applying for the expected Hong Kong stablecoin licenses.
The release of the consultation results marks a critical juncture in Hong Kong's crypto aspirations. By establishing a clear regulatory framework, the city is poised to become a major hub for stablecoin innovation and adoption. This move will attract businesses and investors seeking a secure and well-defined environment for these digital assets.
The above is the detailed content of Hong Kong Nears Stance Announcement on Stablecoins, a Move That Could Influence the Growing Cryptocurrency Industry. For more information, please follow other related articles on the PHP Chinese website!

Detailed explanation and installation guide for PiNetwork nodes This article will introduce the PiNetwork ecosystem in detail - Pi nodes, a key role in the PiNetwork ecosystem, and provide complete steps for installation and configuration. After the launch of the PiNetwork blockchain test network, Pi nodes have become an important part of many pioneers actively participating in the testing, preparing for the upcoming main network release. If you don’t know PiNetwork yet, please refer to what is Picoin? What is the price for listing? Pi usage, mining and security analysis. What is PiNetwork? The PiNetwork project started in 2019 and owns its exclusive cryptocurrency Pi Coin. The project aims to create a one that everyone can participate

With the booming development of the virtual currency industry, virtual digital currency trading platforms around the world are becoming increasingly stronger. This article focuses on the top ten virtual digital currency app platforms in the world in 2025, including Binance, OKX, Gate.io, Kraken, Gemini, FTX, Bybit, KuCoin, Huobi and Coinbase. These platforms are known for their advanced features, a wide range of transaction pairs, low fees and stable performance, providing users with a wide range of virtual currency trading options.

Many ETF issuers are scrambling to apply for SolanaETF, but BlackRock is still holding back? This article will interpret this phenomenon. SolanaETF application boom The Securities and Exchange Commission (SEC) has accepted SolanaETF applications submitted by several institutions, including Bitwise, 21Shares, VanEck, CanaryCapital and Grayscale. Bloomberg predicts that the probability of Solana spot ETF being approved by the end of the year is as high as 70%, which is closely related to the Trump administration's friendly attitude towards cryptocurrencies. The establishment of Franklin's "Franklin SolanaTrust" also implies its potential application for SolanaETF. However, Sol
![Bitcoin [BTC] was on a downtrend after losing the $92,000-support level in the final week of February](https://img.php.cn/upload/article/001/246/273/174209101774967.jpg?x-oss-process=image/resize,p_40)
Technical indicators such as the OBV showed that selling pressure has been dominant, meaning more losses may be likely ahead.

Sui Blockchain's MEV (Maximum Extractable Value) strategy and future outlook MEV have become the core issues in the blockchain field, which are related to transaction sorting and arbitrage opportunities. Sui is committed to guiding the development of MEV through Sui Improvement Proposal (SIP) and other mechanisms, ensuring transparency, transaction security, network health, and participant rewards. In addition to existing mechanisms, more mechanisms are planned to be introduced to ensure that its core principles can effectively guide the evolution of MEVs on Sui. Design principles and considerations Sui's every transaction contains potential profit opportunities. Sui's MEV ecosystem consists of the following mechanisms: MEV transaction submission mechanism MEV opportunity release mechanism MEV

Cryptocurrency has always been a realm where the cutting edge of technology meets bold ambition, and it's only getting more exciting in the future. As artificial intelligence continues to grow in influence, there are a handful of digital assets that

Since the launch of PiNetwork (PI)'s independent network, it has continued to attract the attention of the cryptocurrency community. In contrast to the recent sluggish performance of mainstream cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH) and Solana (SOL), the price of PI has risen against the trend. PI cryptocurrency: Binance listing may become a catalyst for price surge PINetwork (PI) price upward momentum Strong PI is currently priced at $1.6750, far higher than the previous low of $0.6020. Trading activity and investor interest continue to grow, and PI's future price trend has become the focus of market attention. PI market performance: Strong rebound and key resistance levels PI mainnet started at the beginning

The top ten free virtual currency exchanges are ranked: 1. OKX; 2. Binance; 3. Gate.io; 4. Huobi Global; 5. Kraken; 6. Coinbase; 7. KuCoin; 8. Crypto.com; 9. MEXC Global; 10. Bitfinex. These platforms each have their own advantages.

Hot AI Tools

Undresser.AI Undress
AI-powered app for creating realistic nude photos

AI Clothes Remover
Online AI tool for removing clothes from photos.

Undress AI Tool
Undress images for free

Clothoff.io
AI clothes remover

AI Hentai Generator
Generate AI Hentai for free.

Hot Article

Hot Tools

MantisBT
Mantis is an easy-to-deploy web-based defect tracking tool designed to aid in product defect tracking. It requires PHP, MySQL and a web server. Check out our demo and hosting services.

VSCode Windows 64-bit Download
A free and powerful IDE editor launched by Microsoft

Dreamweaver Mac version
Visual web development tools

SublimeText3 English version
Recommended: Win version, supports code prompts!

Notepad++7.3.1
Easy-to-use and free code editor
