Hong Kong Stablecoin Review and Adjudication Department: Only permits fiat-backed stablecoins, with a capital requirement of 25 million HKD for applicants
According to Aastocks, Lo Chi-hung, a member of the Hong Kong Stablecoin Review and Adjudication Department and the Web3 Development Task Force, stated, "Currently, Hong Kong only allows fiat-backed stablecoins supported by legal currency. Applicants must have a capital scale of at least 25 million HKD to ensure sufficient financial strength to operate and respond to market risks.
The issuer's fiat funds must be invested in highly liquid, low-risk assets to ensure the stablecoin's value can be reliably supported. Additionally, independent audits are required to provide compliance certification to regulatory authorities."
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Hong Kong Stablecoin Review and Adjudication Department: Only permits fiat-backed stablecoins, with a capital requirement of 25 million HKD for applicants
According to Aastocks, Lo Chi-hung, a member of the Hong Kong Stablecoin Review and Adjudication Department and the Web3 Development Task Force, stated, "Currently, Hong Kong only allows fiat-backed stablecoins supported by legal currency. Applicants must have a capital scale of at least 25 million HKD to ensure sufficient financial strength to operate and respond to market risks.
The issuer's fiat funds must be invested in highly liquid, low-risk assets to ensure the stablecoin's value can be reliably supported. Additionally, independent audits are required to provide compliance certification to regulatory authorities."