Read the response to HKMA’s paper on the regulation of stablecoins. The letter highlights that the initial focus of the consultation paper is mostly related to payments, although the questions themselves are broad. Given the increasing use of stablecoins in the financial system, along with increased public appetite, the letter recommends that the paper is too narrow, and a secondary tranche of stablecoins regulation needs to be considered and timetabled.
30 March 2022