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Hong Kong to Establish Plan for New Crypto Regulation by July

Hong Kong’s de facto central bank plans to have a new regulatory regime for crypto assets ready by July, as the city vies with Singapore to become a key hub for the burgeoning sector while at the same time containing risks. 

The Hong Kong Monetary Authority is currently approaching the crypto industry from three dimensions: stablecoins that can be used for payments, investor protection and how authorized institutions deal with with digital assets, according to a statement on its website.