TechFlow news, November 21 — According to Aastocks, Lam Chi-hung, member of the Hong Kong Stablecoin Review Tribunal and Web3 Development Task Force, stated that currently Hong Kong only permits fiat-backed stablecoins supported by legal tender. Applicants must have a minimum capital base of HK$25 million to ensure sufficient financial strength to operate and withstand market risks. Issuers' fiat funds must be invested in highly liquid, low-risk assets to reliably back the stablecoin's value, and independent audits are required to provide regulatory compliance proof to supervisory authorities.
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