Express
Hong Kong Stablecoin Licensing System Officially Implemented Today
Summary: According to reports, the new regulations require all companies issuing or promoting stablecoins to retail investors to first obtain a license from the Hong Kong Monetary Authority (HKMA). The new regulations cover various compliance requirements such as reserve asset management, redemption at face value, customer fund segregation, anti-money laundering measures, information disclosure, and operator eligibility.
According to reports, the new regulations require all companies issuing or promoting stablecoins to retail investors to first obtain a license from the Hong Kong Monetary Authority (HKMA). The new regulations cover various compliance requirements such as reserve asset management, redemption at face value, customer fund segregation, anti-money laundering measures, information disclosure, and operator eligibility.
