Hong Kong lawmaker raises concerns over proposed stablecoin regulations
Earlier today, Hong Kong’s financial regulators—the Financial Services and the Treasury Bureau (FSTB) and the Hong Kong Monetary Authority (HKMA)—released a joint statement about a new regulatory framework for stablecoins, a type of cryptocurrency designed to minimize the volatility of the price, typically tied to a reserve asset like the U.S. dollar. However, Hong Kong...