Hong Kong to establish plan for new crypto regulation by July | IDO NFT SHILLER

Hong Kong to establish plan for new crypto regulation by July

Hong Kong’s de facto central bank plans to have a new regulatory regime for crypto assets ready by July, as the city vies with Singapore to become a key hub for the burgeoning sector while at the same time containing risks.

The Hong Kong Monetary Authority is currently approaching the crypto industry from three dimensions:

Stablecoins that can be used for payments

Investor protection

How authorized institutions deal with digital assets