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Hong Kong Released Crypto-Asset Regulatory Plan

Hong Kong’s Monetary Authority (HKMA) released a discussion paper on crypto-asset and stablecoin regulation that will be implemented by 2024. The rapid growth and...
Hong Kong Released Crypto-Asset Regulatory Plan Hong Kong Released Crypto-Asset Regulatory Plan

Hong Kong’s Monetary Authority (HKMA) released a discussion paper on crypto-asset and stablecoin regulation that will be implemented by 2024.

The rapid growth and adoption of cryptocurrencies require ruling, so it does not bring the financial system at risk, HKMA wrote. The regulation will help to improve Hong Kong’s financial stability.

“We place emphasis on issues that may affect the public’s confidence in, and the safety, efficiency, and soundness of, our payment systems, and accord appropriate priority to the protection of users,” the document stated.

The paper said that stablecoins are already being developed for store value and everyday payments, “thus having a higher potential for being incorporated into the mainstream financial system across the globe.”

The development of non-payment-related digital assets will be closely monitored due to uncertainties concerning cryptocurrency.

HKMA encourages taking a risk-based approach when talking about payment-related stablecoins. The authority listed several risks concerning cryptocurrency, including financial and monetary instability, settlement issues, user protection risks, financial crime, international compliance, and regulatory arbitrage.

“Bringing crypto-assets within the regulatory perimeter in an appropriate manner would help address the various risks posed to users and the financial system while embracing the potential benefit of financial innovations.

Many regulators around the world have begun the work. The HKMA is of the view that adopting a risk-based approach would be the most suitable way to take things forward,” HKMA concluded in the paper.

On the Flipside

  • Concerns regarding cryptocurrencies are caused by volatility and complexity. According to the document, Hong Kong imposed regulations to address consumer protection.

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26-01-2022 09:54:27 (UTC+7)

EUR/USD

1.1288

-0.0011 (-0.10%)

Summary

Buy

Moving Avg:

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EUR/USD

1.1288

-0.0011 (-0.10%)

Summary

Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (2)

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GBP/USD

1.3505

+0.0008 (+0.06%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (6)

Sell (0)

USD/JPY

114.35

+0.49 (+0.43%)

Summary

↑ Buy

Moving Avg:

Buy (12)

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Indicators:

Buy (8)

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AUD/USD

0.7168

+0.0019 (+0.27%)

Summary

↑ Buy

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Buy (8)

Sell (4)

Indicators:

Buy (7)

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USD/CAD

1.2565

-0.0062 (-0.49%)

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↑ Sell

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EUR/JPY

129.07

+0.42 (+0.33%)

Summary

↑ Buy

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Buy (9)

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EUR/CHF

1.0384

+0.0010 (+0.10%)

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↑ Buy

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Buy (7)

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Gold Futures

1,833.55

-18.95 (-1.02%)

Summary

Sell

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Buy (4)

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Silver Futures

23.880

-0.016 (-0.07%)

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↑ Buy

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Copper Futures

4.5090

+0.0590 (+1.33%)

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↑ Buy

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Buy (9)

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Crude Oil WTI Futures

87.13

+1.53 (+1.79%)

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↑ Buy

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Brent Oil Futures

88.77

+1.59 (+1.82%)

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↑ Buy

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Natural Gas Futures

4.107

+0.213 (+5.47%)

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US Coffee C Futures

238.83

+0.93 (+0.39%)

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Buy (6)

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Euro Stoxx 50

4,178.65

+100.39 (+2.46%)

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↑ Buy

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Buy (9)

Sell (3)

Indicators:

Buy (11)

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S&P 500

4,436.80

+80.35 (+1.84%)

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↑ Buy

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Buy (9)

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DAX

15,501.68

+377.81 (+2.50%)

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FTSE 100

7,523.90

+152.44 (+2.07%)

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Hang Seng

24,289.90

+46.29 (+0.19%)

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↑ Buy

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US Small Cap 2000

2,039.05

+34.25 (+1.71%)

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↑ Buy

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Buy (12)

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IBEX 35

8,669.87

+190.37 (+2.25%)

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↑ Buy

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Buy (11)

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Buy (7)

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BASF SE NA O.N.

67.890

+2.560 (+3.92%)

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↑ Buy

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Bayer AG NA

51.75

+0.93 (+1.83%)

Summary

↑ Buy

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Allianz SE VNA O.N.

225.33

+5.28 (+2.40%)

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↑ Buy

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Adidas AG

245.28

+7.53 (+3.17%)

Summary

Neutral

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Buy (4)

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Deutsche Lufthansa AG

7.046

+0.369 (+5.53%)

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Buy

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Buy (7)

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Siemens AG Class N

142.08

+3.56 (+2.57%)

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Deutsche Bank AG

11.484

+0.410 (+3.70%)

Summary

↑ Buy

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Indicators:

Buy (8)

Sell (0)

 EUR/USD1.1288Buy
 GBP/USD1.3505↑ Buy
 USD/JPY114.35↑ Buy
 AUD/USD0.7168↑ Buy
 USD/CAD1.2565↑ Sell
 EUR/JPY129.07↑ Buy
 EUR/CHF1.0384↑ Buy
 Gold1,833.55Sell
 Silver23.880↑ Buy
 Copper4.5090↑ Buy
 Crude Oil WTI87.13↑ Buy
 Brent Oil88.77↑ Buy
 Natural Gas4.107↑ Sell
 US Coffee C238.83↑ Buy
 Euro Stoxx 504,178.65↑ Buy
 S&P 5004,436.80↑ Buy
 DAX15,501.68↑ Buy
 FTSE 1007,523.90↑ Buy
 Hang Seng24,289.90↑ Buy
 Small Cap 20002,039.05↑ Buy
 IBEX 358,669.87↑ Buy
 BASF67.890↑ Buy
 Bayer51.75↑ Buy
 Allianz225.33↑ Buy
 Adidas245.28Neutral
 Lufthansa7.046Buy
 Siemens AG142.08↑ Buy
 Deutsche Bank AG11.484↑ Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,190/ 6,240
(-5/ -5) # 1,175
SJC HCM6,180/ 6,245
(-10/ -10) # 1,179
SJC Hanoi6,180/ 6,247
(-10/ -10) # 1,181
SJC Danang6,180/ 6,247
(-10/ -10) # 1,181
SJC Nhatrang6,180/ 6,247
(-10/ -10) # 1,181
SJC Cantho6,180/ 6,247
(-10/ -10) # 1,181
Cập nhật 26-01-2022 09:54:29
Xem lịch sử giá vàng SJC: nhấn đây!
ↀ Giá vàng thế giới
$1,833.52-16.22-0.88%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-IV2486025350
RON 95-II,III
E5 RON 92-II2359024060
DO 0.05S1890019270
DO 0,001S-V1925019630
Dầu hỏa1779018140
ↂ Giá dầu thô thế giới
WTI$86.49-1.52-1.79%
Brent$88.60-1.6-1.83%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD22.460,0022.770,00
EUR24.918,8126.315,80
GBP29.789,2431.061,45
JPY192,82204,12
KRW16,3519,92
Cập nhật lúc 18:54:49 26/01/2022
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