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