Hong Kong Monetary Authority Cautions Public Over Overseas Crypto Firms Posing As ‘Banks’

Quick Summary:

This comes as local regulators intensify efforts to combat fraud amid the region’s push to establish itself as a crypto hub.

One of its major endeavors includes a forthcoming stablecoin regulatory framework, prioritizing fiat-backed stablecoins to ensure financial stability.

Recently in August 2024, the HKMA launched Project Ensemble Sandbox, enabling interbank settlements through experimental tokenized money.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Author / Journalist: Nidhi Kolhapur

Category: Crypto

Markets: United StatesHong Kong

Topics: Crypto Regulations Crypto news News

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-15 @ 13:52:22 (10 hours ago)

News Timezone: GMT +8:00

News Source URL: coinpedia.org

Language: English

Article Length: 441 words

Reading Time: 3 minutes read

Sentences: 20 lines

Sentence Length: 23 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coinpedia

News ID: 23603027

View Article Analysis

About Coinpedia

Main Topics: Crypto

Official Website: coinpedia.org

Update Frequency: 21 posts per day

Year Established: 2016

Headquarters: United States

News Last Updated: 8 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #112

Publisher Details

Frequently Asked Questions