The Hong Kong Monetary Authority has circulated plans to ease capital requirements for banks holding cryptocurrencies, according to local financial news outlet Caixin. The central bank released a draft paper for public comment aimed at clarifying guidance on capital regulation for crypto assets, with implementation planned for early next year.
The drafted guidelines focus on lowering bank capital requirements when issuers can take appropriate measures to prevent and respond to risks. Hong Kong has positioned itself as a global hub for advancing the cryptocurrency industry through supportive regulatory frameworks, with its long-awaited stablecoin guidance taking effect last month following numerous applications from prospective issuers.
The move toward more lenient capital requirements for banks holding crypto could further solidify Hong Kong’s status as a global leader in cryptocurrency adoption. The HKMA did not respond to requests for comment.
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