Hong Kong and the US purpose for stablecoin rules by 2024

The Hong Kong Financial Authority (HKMA) has accomplished a public session on stablecoin rules and goals to introduce clear regulatory tips for the stablecoin market by the top of 2024.

Joseph Chan Ho-Lim, Underneath Secretary for Monetary Providers and the Treasury of the federal government of Hong Kong, mentioned that over the previous 5 years, Hong Kong has emerged as a rising vacation spot for fintech corporations. Chan added that authorities are actively working to advertise the Web3 ecosystem with a concentrate on investor safety.

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