Hong Kong Innovation, Technology and Industry Bureau: Plans to discuss ensuring that stablecoin price changes are reflected in the Hong Kong Stock Exchange Virtual Asset Index

The Hong Kong Legislative Council Web3 and Virtual Asset Development Subcommittee held a meeting yesterday. Zhang Manli, Deputy Secretary for Innovation, Technology and Industry of the Hong Kong Bureau, who attended the meeting, said that in addition to launching an index to track virtual currencies, the Hong Kong SAR government is also studying legislative proposals for implementing a regulatory system for stablecoin issuers in Hong Kong. It is expected that the relevant proposal framework will be submitted to the Legislative Council later this year. She will also have further discussions with the Treasury Bureau and the HKMA to ensure that changes in stablecoin prices can be appropriately reflected in the index to help Hong Kong develop a stablecoin and virtual asset trading center. (Ta Kung Pao Wenhui Network)