Hong Kong strengthens its position as a center for innovation in the field of cryptocurrencies and digital assets. The acting Secretary for Financial Services, Joseph Chan, announced measures aimed at improving regulation and creating conditions for the development of blockchain technologies. In 2023, a working group on the development of Web3 was established, and a draft law on stablecoins was published, requiring licensing from the Hong Kong Monetary Authority for issuers of these tokens. Hong Kong is actively developing a regulated environment to attract crypto companies.
12/16/2024 1:12:48 PM (GMT+1)
Hong Kong strengthens cryptocurrency regulation: introducing licensing for stablecoin issuers and creating a working group on the development of Web3 for sustainable growth of digital assets 📊
142
Total views in all languages
Share: 100
x3
This material was prepared by Khachatur Davtyan, developed and translated by artificial intelligence.
Top Articles of the Last 10 Days
Utah removed the creation of a Bitcoin reserve fund from the HB230 bill, which now focuses on protecting the rights of miners and digital asset owners
European regulators are investigating OKX's involvement in laundering $100 million from the hacked funds of Bybit, considering a potential violation of MiCA standards for cryptocurrency services
Governor of Nebraska signed the LB609 law to protect cryptocurrency ATM users, prevent fraud, and enhance control over the crypto industry
Franklin Templeton launches an ETF tracking the price of the cryptocurrency XRP, reflecting the growing interest in digital assets and expanding opportunities for investors
Nigeria receives $60 million from confiscated US assets after Tigran Gambaryan’s release, strengthening cooperation in the fight against corruption and financial crimes
Elon Musk through D.O.G.E directs funds to SpaceX and Tesla, manipulating figures in government spending, which raises questions about conflicts of interest
The Prime Minister of Vietnam has ordered the development of a legal framework for cryptocurrencies to create a legal basis for digital assets and support their development in the country
