Financial Services Regulatory partner Sara Or spoke with Ming Pao, Hong Kong Economic Journal and Hong Kong Economic Times on Hong Kong’s stablecoin regulatory framework.
Sara shared her perspective on the HKMA’s phased approach to licensing, noting the regulator’s policy for gradual and measured expansion as the public, as well as prospective stablecoin services providers, gain familiarity with stablecoin and the regulatory framework. An agile and forward‑looking regulatory framework is necessary for the development of stablecoin business in Hong Kong. Another observation was that the HKMA’s regulatory philosophy and objectives regarding crypto and financial services are aligned with those of the regulatory authorities in the Chinese Mainland. The emphasis is on safeguarding financial market stability and integrity, as well as protecting the public’s property and interest, through prudent regulatory supervision and approval.
