Hong Kong proposes licensing for fiat-referenced stablecoins

The Financial Services and the Treasury Bureau (FSTB) and the Hong Kong Monetary Authority (HKMA) have released a consultation paper outlining their proposal to accept and regulate fiat-referenced stablecoins (FRS) within the region.  This significant development aims to provide a regulatory framework for stablecoin issuers while mitigating associated risks. The consultation period is set to... source: https://www.cryptopolitan.com/hong-kong-proposes-licensing-for-fiat/