The government will enact the new legislation to bring issuers of fiat-referencing stablecoins into the regulatory perimeter. On 17 July 2024, the Financial Services and the Treasury Bureau and the Hong Kong Monetary...more
Implementation of Basel Committee cryptoassets standard to provide additional clarity for banks looking to engage in cryptoassets business. On 7 February 2024, the Hong Kong Monetary Authority (HKMA) released a...more
Revamped SFC and HKMA guidance applies to intermediaries that distribute products or provide dealing, advisory, and asset management services related to virtual assets. On 20 October 2023, the Hong Kong Monetary...more
In January 2022, the Hong Kong Monetary Authority issued a Discussion Paper on Crypto-assets and Stablecoins, inviting industry comments on the regulatory approach of crypto-assets, in particular payment-related stablecoins....more
Regulators released comprehensive guidance to banks, intermediaries, and insurers on virtual asset-related activities. Key Points: ..Banks and intermediaries looking to provide distribution, dealing, and advisory...more
The Hong Kong Monetary Authority has issued a Discussion Paper on Crypto-assets and Stablecoins in January 2022. The Discussion Paper includes guiding principles of a contemplated regulatory regime for payment-related...more