Gold Finance reported that the Hong Kong Monetary Authority and the Treasury Bureau stated in the legislative proposal consultation summary on the implementation of the regulatory system for stablecoin issuers in Hong Kong that stablecoin issuers should hold sufficient financial resources to properly address the market risks, operational risks, technological risks and other risks arising from their business operations. However, considering the market response, the minimum paid-up capital requirement will be changed to HKD 25 million or 1% of the face value of the stablecoin circulation, whichever is higher. However, the Commissioner of Financial Management reserves the flexibility and power to impose additional capital requirements when necessary.
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Hong Kong stablecoin issuer minimum paid-up capital requirement changed to 25 million Hong Kong dollars or 1/100 of the stablecoin circulation value.
Gold Finance reported that the Hong Kong Monetary Authority and the Treasury Bureau stated in the legislative proposal consultation summary on the implementation of the regulatory system for stablecoin issuers in Hong Kong that stablecoin issuers should hold sufficient financial resources to properly address the market risks, operational risks, technological risks and other risks arising from their business operations. However, considering the market response, the minimum paid-up capital requirement will be changed to HKD 25 million or 1% of the face value of the stablecoin circulation, whichever is higher. However, the Commissioner of Financial Management reserves the flexibility and power to impose additional capital requirements when necessary.