The Hong Kong Monetary Authority (HKMA) has released a discussion paper on cryptoassets. The paper highlights a bill that will be introduced to regulate businesses operating in the space. At first, the regime will only apply to cryptoasset exchanges, while custodians and wallet providers will be included at a later stage. The HKMA’s paper sets out considerations for expanding the scope of Hong Kong’s regulatory framework, and in particular, how it should regulate stablecoins.

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