Hong Kong’s monetary authority (HKMA) It has circulated plans to relieve capital requirements for banks that have cryptocurrencies, Caixin’s local media reported Wednesday.
The Central Bank published a document draft for public comments in order to clarify the orientation on capital regulation for cryptographic assets, which will be implemented at the beginning of next year.
Written guidelines focus on reducing bank capital requirements if the issuing can take appropriate measures to prevent and respond to risks, according to the report.
Hong Kong has become one of the centers of the world to advance in the cryptocurrency industry through a more useful regulatory regime. His long -awaited orientation about Stablecoins entered into force last month after an avalanche of applications for possible emitters.
A change to more indulgent capital requirements for banks that have cryptography could help consolidate Hong Kong even more as a world leader for the adoption of cryptography.
The HKMA did not respond to the request for comments from Coindesk.
