People familiar with the matter: Harvest Fund and other companies are discussing with the Hong Kong Monetary Authority on the stable currency pilot plan

According to people familiar with the matter, Hong Kong’s move to introduce stablecoin-related regulations as soon as this quarter has attracted interest from many parties, including the international subsidiary of Harvest Fund Management Co., a large asset management company. Harvest Global Investments Ltd., fintech specialist RD Technologies and crypto exchange-traded fund Venture Smart Financial Holdings Ltd. are working with the Hong Kong Monetary Authority on a planned stablecoin pilot. i.e. regulatory sandbox) for discussion. The Hong Kong Monetary Authority and the Financial Services and the Treasury Bureau began consultations on stablecoin rules last month and said the sandbox would help communicate regulatory expectations. There is no guarantee that the upcoming framework will be finalized by the end of March or that all companies seeking to participate in the pilot will be approved, people familiar with the matter said. (Bloomberg)