The Hong Kong Monetary Authority (HKMA) has released a document outlining its regulatory approach to cryptoassets and stablecoins.
Kong Kong’s regulator released a document open to feedback on cryptoassets and stablecoins on Wednesday. The approach laid out in the document takes into account international recommendations, the market and regulatory landscape in local and other major jurisdictions, and stablecoins focused on payments. Eddie Yue, HKMA Chief Executive Officer, said in a statement on the subject:
The agency highlighted specific topics in the document in the form of questions and answers to make it easier for stakeholders to share their views. Stakeholders will be able to send their feedback on the document on the HKMA website until March 31, 2022.