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Blog: Hong Kong Regulator Canvasses Views on Rules for Crypto Assets, May Adopt Regulatory Framework by 2024 – Gadgets 360

January 13, 2022
Source: postbrexitcompliance.com postbrexitcompliance.com
News Snapshot:
Hong Kong’s de facto central bank invited comment on Wednesday about ways to regulate crypto assets and stablecoins, with the aim of adopting a regulatory framework by 2024 in which the policy spectrum could range from no action to a blanket ban. The rapid growth of cryptocurrencies and, in particular, stablecoins , or digital assets pegged to traditional currencies, has drawn attention from regulators worldwide, who fear they could put the financial system at risk if not monitored. The global market value of crypto assets stands at about $2.2 trillion (roughly Rs. 16257406 crore), pointing to their growing inter-connectedness with...
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