In an article in the Hong Kong Economic Times, Tung Lau Kin-yu of the Hong Kong Federation of Youth said that the Hong Kong Financial Services and the Treasury Bureau and the Monetary Authority have previously issued a consultation summary on the legislative proposal to implement a regulatory regime for stablecoin issuers in Hong Kong, and announced three institutions participating in the sandbox. Participating institutions can test the expected business model within a specified range and commun...
On July 19, Chen Weimin, vice president of the Hong Kong Monetary Authority, wrote in Huisi that the main application scenarios proposed by the first three institutions participating in the "sandbox" of stablecoin issuers include payment, supply chain management and capital markets use cases. In addition to the above application scenarios, the "sandbox" participating institutions also proposed other use cases, including Web3, gaming and virtual asset trading. Chen Weimin watch...