Hong Kong plans to launch a licensing system for the issuer of the stable currency of the legal currency price to strengthen the regulation of virtual assets.
According to the Hong Kong Government News Network, the above -mentioned legislative recommendations are announced on Wednesday (July 17).The Hong Kong Financial Affairs and Treasury Bureau and the Financial Administration said that they will finalize legislative suggestions in response to the response's opinions and submit the draft regulations to the Legislative Council as soon as possible.
Most responders agree that they need to introduce the supervision system for the issuer of the fiat currency stable currency to properly manage the potential currency and financial stability risks, and provide transparency and appropriate regulations.Responders also generally support the proposed supervision requirements and implementation arrangements.
Xu Zhengyu, director of the Hong Kong Treasury Bureau, said that, in addition to the current virtual asset trading platform supervision system, establishing a licensing system for the issuer of French currency stable coins will strengthen Hong Kong's virtual asset regulation framework, which is consistent with international standards.It also effectively reduces the risk of issuance of the relevant activities of the issuance of fiat currency stable currency to the stability of financial stability.
