HKMA issues discussion paper on crypto-assets and stablecoins
February 08, 2022
Introduction
The Hong Kong Monetary Authority (HKMA) issued a discussion paper on 12 January 2022 in which it sets out its views on how to expand Hong Kong’s regulatory framework for crypto-assets. The discussion paper joins a number of papers that regulators across the world have issued on the subject of crypto-assets and has been prompted by the region witnessing significant growth in the market capitalisation of crypto-assets, as well as increasing investment in and/or usage by institutional and retail players. The discussion paper in particular considers stablecoins, which are generally considered a sub-set of crypto-assets, and have also been the focus of discussion across the international regulatory fora.