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Hong Kong Sets Sight On Stablecoins, Considers Them As National Threat

The Hong Kong Monetary Authority (HKMA) has emphasized that the initial focus of regulating cryptocurrencies in 2023 would be stablecoins that represent themselves as being linked to the value of one or more legal currencies.

According to the HKMA, these stablecoins present larger and more immediate threats to the economic and financial stability of the nation, which is why regulating them is a priority.

Hong Kong
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