Hong Kong Monetary Authority launches stablecoin issuer sandbox

On March 12, the Hong Kong Monetary Authority (HKMA) launched what is known as the Stablecoin Issuer Sandbox Agreement. The HKMA stated that applicants interested in establishing a stablecoin business in Hong Kong must have a sound business plan. The regulator also clarified that approval of the sandbox does not imply approval or support for (…). Source: Bitcoin.com