The minimum paid-up share capital requirement for Hong Kong stablecoin issuers has been changed to HK$25 million or 100% of the face value of the sta
Odaily2024/07/18 11:36
By:Odaily
Odaily News The Hong Kong Monetary Authority and the Treasury Department stated in the consultation summary of the legislative proposal for the implementation of a regulatory regime for stablecoin issuers in Hong Kong that stablecoin issuers should hold sufficient financial resources to properly deal with the relevant
market risks, operational risks, technological risks and other risks arising from their business operations, but after taking into account market responses, the minimum paid-up share capital requirement will be changed to HK$25 million or one percent of the face value of its stablecoin circulation, whichever is higher. However, the Monetary Authority reserves the flexibility and power to impose additional capital requirements when necessary. (Hong Kong Government News Release)
0
0
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!
You may also like
The Scoop: Anti-crypto bias may have cost Democrats the election
A growing base of single-issue crypto voters have become frustrated by Democrats’ general opposition to the industry.This column is adapted from The Scoop newsletter.
The Block•2024/11/15 19:22
Manhattan prosecutors plan to scale back crypto cases
Cointime•2024/11/15 18:33
USDC Treasury destroys 50 million USDC on the Ethereum chain
Cointime•2024/11/15 18:33
Trending news
MoreCrypto prices
MoreBitcoin
BTC
$89,669.94
+0.26%
Ethereum
ETH
$3,034.15
-3.30%
Tether USDt
USDT
$1
-0.01%
Solana
SOL
$211.4
-1.92%
BNB
BNB
$612.86
-3.79%
Dogecoin
DOGE
$0.3645
-8.11%
XRP
XRP
$0.8935
+15.84%
USDC
USDC
$1.0000
+0.02%
Cardano
ADA
$0.6636
+18.45%
TRON
TRX
$0.1881
+5.24%
Bitget pre-market
Buy or sell coins before they are listed, including ZRC, MAJOR, OGC, MEMEFI, and more.
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new Bitgetters!
Sign up now