Hong Kong launches "designated stablecoin" regulatory strategy focusing on value anchoring and Hong Kong dollar peg.

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On June 7, the 21st Century Business Herald published an article analyzing "Hong Kong's "betting" on stablecoins: a key to an international financial center, which pointed out that Hong Kong proposed the concept of "specifying stablecoins", which corresponds to the model of "value anchoring supervision". The concept of a "specified stablecoin" refers to a stablecoin that maintains a stable value by reference to one or more official currencies, or a unit of calculation or store of economic value specified by the HKMA. Regulation focuses on two types of activities: the issuance of specified stablecoins in Hong Kong; or specified stablecoins issued outside Hong Kong that claim to be pegged to the value of the Hong Kong dollar, which ensures that the Hong Kong dollar-pegged stablecoin is regulated and leaves room for other stablecoins.

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DaoResearchervip
· 22h ago
Excessive concentration of governance rights
Reply0
CryptoNomicsvip
· 22h ago
Regulatory arbitrage play
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DaoGovernanceOfficervip
· 22h ago
Bold but restrictive step
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DaoDevelopervip
· 22h ago
Smart moves HK.
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