Share this article
Hong Kong Monetary Authority Issues Discussion Paper on Crypto Assets and Stablecoins
"We look forward to hearing the feedback from stakeholders and will draw up a risk-based, pragmatic and agile regulatory regime," HKMA Chief Executive Eddie Yue said.
Updated May 11, 2023, 4:39 p.m. Published Jan 12, 2022, 12:40 p.m.
The Hong Kong Monetary Authority (HKMA) released on Wednesday a "Discussion Paper" in which it lays out its thinking on the regulatory approach for crypto assets, particularly payment-related stablecoins.
- "The approach has taken into account, among other things, the international recommendations, the market and regulatory landscape locally and in other major jurisdictions, and the characteristics of payment-related stablecoins," the announcement says. To facilitate the stakeholders in sharing their views, the HKMA has highlighted certain issues in the form of questions and answers in the paper.
- "The rapid development of crypto-assets, particularly stablecoins, is a topic of keen attention in the international regulatory community as it presents possible risks regarding monetary and financial stability," said HKMA Chief Executive Eddie Yue in the statement. "We look forward to hearing the feedback from stakeholders and will draw up a risk-based, pragmatic and agile regulatory regime on this front."
- The paper is available on the HKMA website. Members of the public and the industry are welcome to submit their responses by email to [email protected] on or before March 31, 2022.
Read more: Hong Kong’s SFC Has Received Multiple Requests for Crypto ETFs
STORY CONTINUES BELOW
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
CFTC Launches Digital Assets Pilot Allowing Bitcoin, Ether and USDC as Collateral
Acting Chair Caroline Pham has unveiled a first-of-its-kind U.S. program to permit tokenized collateral in derivatives markets, citing "clear guardrails" for firms.
What to know:
- The CFTC has launched a pilot program allowing BTC, ETH and USDC to be used as collateral in U.S. derivatives markets.
- The program is aimed at approved futures commission merchants and includes strict custody, reporting and oversight requirements.
- The agency also issued updated guidance for tokenized assets and withdrew outdated restrictions following the GENIUS Act.
Top Stories
