The criteria for obtaining an HKMA license will include full backing of all circulating stablecoins with reserves “at least equal to the par value.”
Hong Kong to oblige stablecoin issuers to obtain license — consultation paper
Hong Kong has proposed it will accept and regulate fiat-referenced stablecoins (FRS), but issuers will be obliged to obtain a specific local license. This is one of the main points of ...
8 months ago