Minimum fully paid-up capital requirement for Hong Kong stablecoin issuers changed to HK $25 million or 1/100th of the stablecoin in circulation
2024-07-18 06:59:52
Hong Kong HKMA Treasury Hong Kong implementation stablecoin issuance regulationdesk3cryptocurrencydesktopCrypto News
The HKMA and the FCA stated in the consultation summary on legislative proposals to implement a regulatory regime for stablecoin issuers in Hong Kong that stablecoin issuers should maintain sufficient financial resources to properly address the relevant market risks, operational risks, technical risks and other risks arising from their business operations, but taking into account that the market response will change the minimum fully paid-up capital requirement to HK $25 million or 1% of its stablecoin liquidity, whichever is higher. However, the Monetary Authority reserves the flexibility and power to impose additional capital requirements if necessary.
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