The Hong Kong General Chamber of Commerce has proposed a stablecoin for the government’s budget talks.
Hong Kong General Chamber of Commerce (HKGCC), government Chinese linked to yuan or backed by a group of fiat currencies such as the yuan, Hong Kong dollar or US dollar. to allow the issuance of stablecoin he called.
The HKGCC said the government also 20 billion Hong Kong dollars ($2.5 billion) will have an upper limit “Virtual Asset Connection Project” suggested its evaluation. However, no information was given about the details of this project.
HKGCC, “One of the key points of the proposal is to keep talent and businesses here and attract them here. “This is critical to improving the overall working environment in Hong Kong and alleviating severe labor shortages.” said.
Hong Kong’s central bank, the HKMA, said in a statement in December. “An issuer of a stablecoin that references the value of one or more fiat currencies in Hong Kong.” organizations must be licensed he stated.