Hong Kong Aims to Promote Cryptocurrency with New Infrastructure Rules to Guide Insurance Industry Investment

BlockBeats News, December 22, according to Bloomberg, Hong Kong plans to promote cryptocurrency and infrastructure new regulations to guide insurance industry investment, and the insurance regulatory agency will impose a 100% risk charge on cryptocurrency assets. The document shows that the risk charge for stablecoin investments will be determined based on the fiat currency to which the stablecoin is pegged under Hong Kong's regulatory framework. The regulatory agency's proposal is still subject to potential adjustments, with a public consultation expected to take place from February to April, followed by submission to the legislative process.