The Hong Kong Monetary Authority's regulatory framework for stablecoins is about to be released, with relevant legislation to be issued within months.

According to Gate.io News bot, as reported by Hong Kong Wen Wei Po, the Vice President of the Hong Kong Monetary Authority, Chen Weimin, announced at the HSBC Global Investment Summit that the regulatory framework for stablecoin issuance by the Hong Kong Monetary Authority has made substantial progress, and the relevant bill is currently under review by the Legislative Council, with plans to officially promulgate it in the coming months.

The Monetary Authority has completed the development of detailed guidelines and established a sandbox environment to provide specific application scenarios for stablecoin issuance. At the same time, the Monetary Authority is collaborating with relevant institutions to ensure that licensed issuers can establish sustainable business models through stablecoins.

Chen Weimin pointed out that the Monetary Authority focuses on the operational risks of stablecoin in its regulatory priorities, specifically including measures such as reserve management, liquidity management, and anti-money laundering (AML) to ensure controllable risks and sustainability of the business model when formal licensing is achieved.

Source: Hong Kong Wen Wei Po