“The New Rules Meal That Stablecoin Isssuers Will Need to Apply for A License in the Region.”, – WRITE: www.coindesk.com
The SPECIAL ADMINISTRATIVE REGION OF CHINA HAS TKEN STEPS IN RECENT YEARS TO STREEGTHEN ITS POSION IN THE INDUSTRY EN Route to Realizing ITS Goal of Beeling a Hub for Crypto and Web3 in. IT Established a Regulatory Framework for Crypto Exchanges More Than Two Years Ago, and Started Consulting on Stablecoin Rules in 2023.
The Law Governing Stablecoins, WHICH Are Cryptocurrencies Whose Value Is Pegged To a Real-World Asset Such as The Dollar, Passed in May. Applications for Licenses Can Be Submitted from Now for the Next Three Months, Account to Hong Monetary Authority (HKMA) GUIDANCE PUBLISHED ON TUESDAY. FIRMS THAT SUBMITTED AN APPLICATION WILL BE ALLOWED TO Continue While Their Request is Being Considired Until Jan. 31.
While Some 40 Companies Were Reportedly Waiting to Apply for A Stablecoin License Last Month, Many Are Unlikely to Be Successful. The Market Has Become “Overly Excited,” HKMA CEO EDDIE YUE Wrote Last Month. The Regulator Is Likely to Approve Fewer than 10.
Shumba Studied Politics, Philosophy and Economics As A Combined Degree at The University of East Anglia Before Doing A Postgraduate Degree in Multimedia Journalism. While She Did Her Undergraduate Degree She Had An Award-Winning Radio Show on Making A Different. She does not currently Hold Value in any digital currencies or projects.
X Icon
