|
Hong Kong has pledged to continue supporting digital assets, with the latest budget revealing plans to launch a stablecoin sandbox to support issuers.
Presenting the budget, financial secretary Paul Chan delved into stablecoins, plans to expand the city’s digital dollar, Web3 initiatives, tokenized bonds, and an expansion of China’s digital yuan testing. On stablecoins, Chan revealed that the city consulted the public on legislative proposals to develop a regulatory regime for the sector towards the end of last year. The aim is to safeguard financial stability and protect investors without compromising innovation, he said. “The HKMA will soon roll out a “sandbox” for entities interested in issuing stablecoins to conduct trials, under manageable conditions, on the issuance process, business models, investor protection and risk management system,” he said. Source: Coin Geek
0 Comments
Leave a Reply. |
RSS Feed