TOP GUIDELINES OF STABLECOIN LEGISLATION

On June five, 2023, the SEC sued copyright for supplying and promoting BUSD – its US dollar-backed stablecoin – being an unregistered safety. The SEC alleged that copyright improperly promoted and touted BUSD like a profit-creating instrument by promising curiosity payments to buyers who merely held BUSD around the Ethereum blockchain. copyrigh

In the proposal, the FSTB and HKMA reference comments from session members, industry developments, and Global dialogue on stablecoins in its selection to "take ahead the legislative proposal to implement a regulatory routine for issuers of fiat-referenced stablecoin (FRS) in Hong Kong." In combination with funds and small-phrase Treasury bonds —