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Hong Kong’s monetary authority (HKMA) announced Tuesday I officially launched their regimen to Long to steady
Last update shows Hong Kong’s intention to regulate the steady sector, which offer the clarity for market participants while reinforking investment and integrity
New guide defeated the regulation road
The one’s Hkma Published two set of documents: the “lines of the monitoring monitoring monitoring vigilation” and the “lines of money funding.”
These were accompanied by proceedings of the application proceedings of application of proses and transitional licensing applications for existing issuance. The application is interested in the August 31 to receive the advanced open feedback, with a submission of September 30 for those ready to prompt.
Completion of compliance and market conduct
Steadycoin issue operating in or marketing to Hong Kong should now be respectfully with the new steady ordinance. The Hkma warned that the wrong claims regarding the state of license could result in criminal pouches.
The authorities did not agree to any license of July 29, and the public is advised of any credentials of the HKMA site.
Period of transition and principal of industry
Transitory frame allows the issue of issue of existing stable steady to align with new rules. The issuers already active in the market are expected to gradually carry their operations in respect.
The Hkma positioned the license process, encouraging to prove the preparation preparation before submitting materials for review.
Hkma is in the adjustor-shaped frame for steady-stable frog with a focus on risk mitigation, consumption and system protection.
The Hkma in the development of a regretory frame for regulatory emusions to mitigate risky stability, to unlock the digital potential and favor their development.
pic.twitter.com/su3dz9ecvz
– HKMA HKMA HING KONG (@HKMAG6K) 26 July 17, 2024
Introduced a clear license regime, the Hkma said secured as its all just warms, and perfect players can operate in space.
Even protection, the squares also reflects Hong Kong ambition to drive in regulated digital finance. With the robost guidel in place, the city can attract the quality innovation, support the sixteenth institution, and reinforce their hub global
Hong Kong declares stable steady stable promotions a crime
Last week, Hong Kong once said the public market of the public, like the city tighten the checks in the rollout of a Framework early regulators. I am
The move comes as the authority seek fresh market and protect the investors of the hype and fraud in the space of digital assets. Eddie Yue, Chief Executive of Hkma issued a notice Wednesday, justify only before the Steady Sorting of the City comes into effect on August 1.
Is a cbdc the next step?
In definitinate, this license initiative pose the glass of the males of digital coastal places, including potential digital coins of the potential (CBDCS). Hkma strategy is clear: Innovation responded from the strong supermosphere, is key to block the digital risks money.
While the current focus is on private strawl, this regulatory rolling to digital Hong Kong is actually exploring Central Digitally (CBDCS), both in the leash and sales levels.
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