Hong Kong regulator canvasses views on ways to regulate crypto assets

Hong Kong regulator canvasses views on ways to regulate crypto assets

A logo sits on the windows of the offices of La Maison du Bitcoin bank in Paris, France, on Thursday, Nov. 23, 2017. Photographer: Christophe Morin/Bloomberg

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.

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