Christopher Hui: Hong Kong Monetary Authority is Formulating Stablecoin Regulatory Framework
On June 5, TuoniaoX.com reported that Hong Kong's Secretary for Financial Services and the Treasury, Christopher Hui, briefed on the latest developments and measures in fintech and other innovative financial services, as well as progress in virtual asset regulation. He stated that to seize opportunities brought by Web3 development, Hong Kong's Financial Secretary will establish a dedicated task force to provide recommendations on promoting sustainable and responsible development of the Web3 industry. Additionally, the Hong Kong Monetary Authority is formulating a regulatory framework for stablecoins and plans to conduct a second round of public consultation within this year.
On June 5, TuoniaoX.com reported that Hong Kong's Secretary for Financial Services and the Treasury, Christopher Hui, briefed on the latest developments and measures in fintech and other innovative financial services, as well as progress in virtual asset regulation. He stated that to seize opportunities brought by Web3 development, Hong Kong's Financial Secretary will establish a dedicated task force to provide recommendations on promoting sustainable and responsible development of the Web3 industry. Additionally, the Hong Kong Monetary Authority is formulating a regulatory framework for stablecoins and plans to conduct a second round of public consultation within this year.