Hong Kong Stablecoin Review Tribunal: Only fiat-backed stablecoins are permitted, with a capital threshold of 25 million HKD for applicants.

According to BlockBeats news on November 21, reported by Aastocks, Lyu Zhihong, a member of the Hong Kong stablecoin review tribunal and Web3 development group, stated that currently, Hong Kong only allows fiat-collateralized stablecoins supported by fiat currency. Applicants must have a capital scale of at least 25 million HKD to ensure sufficient financial strength to operate and cope with market risks. The fiat funds of the issuer must be invested in highly liquid, low-risk assets to ensure that the stablecoin's value can be reliably supported, and must also pass independent audits to provide compliance proof to regulatory authorities.

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