Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
Home»ADOPTION NEWS»Hong Kong plans to launch regulatory sandbox for stablecoin issuers
ADOPTION NEWS

Hong Kong plans to launch regulatory sandbox for stablecoin issuers

By Crypto FlexsFebruary 28, 20242 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Hong Kong plans to launch regulatory sandbox for stablecoin issuers
Share
Facebook Twitter LinkedIn Pinterest Email

Posted 1 minute ago In ~

The Hong Kong Monetary Authority plans to introduce a regulatory sandbox for stablecoin issuers in the near future, Hong Kong Finance Minister Paul Chan said in his 2024 Budget presentation on Wednesday.

Chan said in the announcement that the sandbox is designed to allow companies to test stablecoin initiatives, explore business models, and implement investor protection and risk management strategies in a controlled environment.

“Cybersecurity, along with investor and customer protection, is the most important issue in Web 3.0 development, embracing the ‘same activity, same risk, same regulation’ principle,” Chan added.

In December last year, the HKMA and the Financial Services and Finance Bureau (FSTB) jointly Consultation has begun Learn about licensing requirements for stablecoin issuers. This comes as Hong Kong is moving to regain its status as Asia’s cryptocurrency hub. pushed out the licensing system Digital asset trading platform last June.

The Hong Kong Securities and Futures Commission noted: official website Cryptocurrency trading platforms that have not submitted their license applications by February 29 will have until the end of May to cease operations in the region. So far, only two, OSL and Hashkey, have obtained operating licenses in Hong Kong.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

About the author

Danny Park is The Block’s East Asia reporter, writing about topics including Web3 development and cryptocurrency regulation in the region. He previously worked as a reporter for Forkast.News, where he actively covered the fall of Terra-Luna and FTX. Based in Seoul, Danny previously produced written and video content for media companies in Korea, Hong Kong and China. He holds a Bachelor’s degree in Journalism and Business Marketing from the University of Hong Kong.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Vaneck launches GPZ ETF for alternative asset managers.

June 7, 2025

Thorchain integrates the director of the XRP to facilitate the distributed swap.

June 7, 2025

Thorchain integrates the director of the XRP to facilitate the distributed swap.

June 7, 2025
Add A Comment

Comments are closed.

Recent Posts

Trump memoin is faced with a $ 520m lock in July and the price drops by 85%.

June 7, 2025

Vaneck launches GPZ ETF for alternative asset managers.

June 7, 2025

Apple, X, Airbnb Eye Stablecoin Integration

June 7, 2025

Strategy to raise almost $ 1B by STRD priority proposal for BTC accumulation

June 7, 2025

Hash research CEO is appointed chief policy officer at the presidential office

June 7, 2025

Thorchain integrates the director of the XRP to facilitate the distributed swap.

June 7, 2025

Thorchain integrates the director of the XRP to facilitate the distributed swap.

June 7, 2025

Coinbase adds a pancake swap to Roadmap to Surges for BNB Chain Dex to record $ 173,000,000 in monthly.

June 7, 2025

Nautilus launches anti -tamper prevention Oracles in Sui Mainnet.

June 7, 2025

Binance Alpha Listing Drive Skating Token Price 33%

June 7, 2025

Data Center security improvement: Role and risk of base board management controller

June 7, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Trump memoin is faced with a $ 520m lock in July and the price drops by 85%.

June 7, 2025

Vaneck launches GPZ ETF for alternative asset managers.

June 7, 2025

Apple, X, Airbnb Eye Stablecoin Integration

June 7, 2025
Most Popular

Software and Bounded Rationality | Ethereum Foundation Blog

May 28, 2024

Binance Launches New Earn Wednesday Limited-Time Offer

August 28, 2024

Bybit’s PayPal PYUSD and Solana integration represents a key step toward blockchain interoperability.

August 20, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.