Circular on provision of Relevant Stablecoin service by virtual asset trading platforms and licensed corporations
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What the SFC said
The SFC sets expected standards for VATPs and LCs dealing in Relevant Stablecoins (specified stablecoins issued under an HKMA licence). Given HKMA oversight, the VATP Guidelines' liquidity and index requirements need not apply, but firms must disclose stabilisation and redemption mechanisms and assess client VA knowledge.
This page is our summary and commentary, not the circular itself — always read the original before acting.
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