The Hong Kong Monetary Authority Launches “Sandbox” Initiative to Guide Stablecoin Issuance towards Compliance
The Hong Kong Monetary Authority (HKMA) has stated that the launch of the “sandbox” program is primarily aimed at supporting the continuous development of Hong Kong’s virtual asset ecosystem. Through this program, the HKMA not only hopes to convey regulatory expectations to issuers who are genuinely interested and ready to issue fiat-backed stablecoins in Hong Kong, but also provides a set of compliance guidelines to enable these issuers to effectively address future regulatory frameworks.
