According to Deep Tide TechFlow, on May 23, the Legislative Council of the Hong Kong Special Administrative Region passed the (Stablecoin Regulation Draft). Ma Fei, head of digital assets and fintech at Standard Chartered Hong Kong, welcomed the passage of the regulation and looks forward to its implementation later this year.
Standard Chartered Hong Kong is collaborating with Anping Group and Hong Kong Telecommunications to establish a joint venture, planning to apply to the Hong Kong Monetary Authority for a license to issue a stablecoin pegged to the Hong Kong dollar under the new regulatory framework. Relevant preparatory work is underway, and more details will be announced in due course.
