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Hong Kong’s monetary authority (HKMA) invited stable heisers to begin asking licenses as the city Steady’s regulations are declined in August. I am
In a statement Releated July 29, the HKMA finger said that the interests can submit preliminary applications for August 31.
This initial phase is designed to help prompts regulatives regulatives and receive feedback before formal submission.
Meanwhile, companies that meet the necessary conditions must undergo the full applications from September 30.
Darryl Chan, the Hkma Deputy declined that the regulator has planned to emit only a limited number of licenses in the initial rollout, possibly at 2026.
This moves put Hong Kong in step with other major jurisdictions working to regulate stable. In the European Union, many companies already beneath the mixed frame.
Meanwhile, Steady’s suppliers in the US is adjusted to introduced requirements under the act of genius recently.
Hong kong regulations
The new hong kong frame Request these cryptourages to be fully supported by high quality assets, liquid. Reserve requirement protects consumers and ensures financial stability as the market of digital assets.
The Hkma still has the market participants to make the wrong public requests. The financial regulator stressed that the new law is criminating fake representation as a licensed issuer or candidate.
Stressed hkma someone is illness could attract legal consequences.
To help legitimate identified operators, hkma will post a list of licensed steady listing on their website. Until then the regulator recommended users to be forbidden from any firm or individual to be licensed or apply for a license.
Add that no license were granted, and any public predictications to the contrary must be treated with skepticism.
The regulator has loaded users who hold or convey with the steady stabiles without licensure, will be done in their risk.
