Hong Kong's Under Secretary for Financial Services and the Treasury, Chen Haolian: Plans to introduce a regulatory framework for stablecoins by the end of 2024

ChainCatcher news, according to RTHK, the Deputy Secretary for Financial Services and the Treasury, Chen Haolian, stated that the Hong Kong Monetary Authority has publicly sought opinions on the regulatory policy for stablecoins and will establish a regulatory framework, aiming to launch it by the end of next year.

Chen Haolian mentioned that the Hong Kong government is focusing on developing Internet 3.0. Earlier, it had issued a policy declaration for the development of virtual assets, adopting the principle of "same business, same risks, same rules" for regulation. He believes this will allow the industry to develop steadily in Hong Kong while also protecting investors and ensuring that anti-money laundering rules meet international standards. (Source link)