Hong Kong's central banking institution, the Hong Kong Monetary Authority (HKMA), released a questionnaire to gauge public opinion on regulations for crypto-assets and stablecoins. The state-backed regulator intends to establish a regulatory framework by 2023-24.HKMA’s “Discussion Paper on Crypto-assets and Stablecoins” highlights the explosive growth of the stablecoin market … [Read more...] about Hong Kong begins discussions to introduce stablecoin regulatory framework
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Hong Kong Monetary Authority Issues Discussion Paper on Crypto Assets and Stablecoins, Seeks Views on Approach
"The approach has taken into account, among other things, the international recommendations, the market and regulatory landscape locally and in other major jurisdictions, and the characteristics of payment-related stablecoins," the announcement says. To facilitate the stakeholders in sharing their views, the HKMA has highlighted certain issues in the form of questions and … [Read more...] about Hong Kong Monetary Authority Issues Discussion Paper on Crypto Assets and Stablecoins, Seeks Views on Approach
Users of Hong Kong Crypto Exchange Coinsuper Say They Cannot Withdraw Funds
One of the venture capitalists that had backed Coinsuper told Bloomberg that they had completely written off their $1 million investment in the exchange. Six to eight months ago, the VC lost contact with the exchange’s management team, while Chairman and CEO Karen Chen stopped responding on WeChat, Bloomberg said. Chen is the former president of UBS China. Source link … [Read more...] about Users of Hong Kong Crypto Exchange Coinsuper Say They Cannot Withdraw Funds
China, Hong Kong Enter Second Phase of Cross-Border Digital Yuan Trials: Report
China and Hong Kong are in the second phase of testing cross-border transactions using central bank digital currencies (CBDCs), Mu Changchun, director of the Digital Currency Institute of the People’s Bank of China, said Thursday, according to Shanghai Securities News. Source link … [Read more...] about China, Hong Kong Enter Second Phase of Cross-Border Digital Yuan Trials: Report
Huobi Tech Launches Crypto Lending Services in Hong Kong
Huobi Tech is introducing crypto lending for institutional investors in Hong Kong, according to a company press release shared with CoinDesk.The loans will range from $10,000 to $100 million in USDT and other currencies, and will carry an 8.8% fixed-term annual percentage rate, a company representative told CoinDesk via email.The Hong Kong-listed company is affiliated with … [Read more...] about Huobi Tech Launches Crypto Lending Services in Hong Kong