HKMA plans stablecoin trials with tokenized government debt

Furthermore, the Hong Kong Monetary Authority (HKMA) intends to incorporate regulated stablecoins into pilot programs concerning tokenized government debt.

This development signals an ongoing regulatory evolution in Hong Kong's digital asset landscape.

Earlier coverage

• Tether excess reserves nearly double to $8B, Q3 profit reaches $1.5B Oct 30
• CFTC Chair Selig warns AI agents could challenge financial rules Oct 29
• Fed's hawkish rate hold keeps pressure on Bitcoin, analysts say Oct 29