#HongKongNewStableCoinRegulatoryRulesReleased! 💼

The Hong Kong Monetary Authority and the Treasury Department released a consultation summary on the legislative proposals for the regulatory regime for stablecoin issuers. The new rules require issuers to have sufficient financial resources to deal with market, operational, technical and other risks, and set the minimum paid-up capital requirement at HK$25 million or 1% of its stablecoin circulation, whichever is higher. At the same time, the Monetary Authority reserves the power to impose additional capital requirements.

What do you think of this new rule? Let's chat in the comments section!