Hong Kong Stablecoin Review and Adjudication Office: Only fiat-collateralized stablecoins allowed, applicant capital threshold of HKD 25 million
According to Aastocks, Lu Zhihong, member of the Hong Kong Stablecoin Review and Adjudication Office and Web3 Development Group, stated, "Currently, Hong Kong only allows fiat-collateralized stablecoins backed by legal tender. Applicants must have a capital scale of at least HKD 25 million to ensure sufficient financial strength to operate and respond to market risks.
The fiat funds of issuers must be invested in highly liquid, low-risk assets to ensure the stablecoin's value is reliably supported, and must also undergo independent audits to provide compliance certification to regulatory authorities."
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Hong Kong Stablecoin Review and Adjudication Office: Only fiat-collateralized stablecoins allowed, applicant capital threshold of HKD 25 million
According to Aastocks, Lu Zhihong, member of the Hong Kong Stablecoin Review and Adjudication Office and Web3 Development Group, stated, "Currently, Hong Kong only allows fiat-collateralized stablecoins backed by legal tender. Applicants must have a capital scale of at least HKD 25 million to ensure sufficient financial strength to operate and respond to market risks.
The fiat funds of issuers must be invested in highly liquid, low-risk assets to ensure the stablecoin's value is reliably supported, and must also undergo independent audits to provide compliance certification to regulatory authorities."