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[Report: Stablecoin Issuers' Sandbox Participates In Other Use Cases Such As Virtual Asset Transactions, And Can Appropriately Adjust The Design Scenarios And Application Scope] The Hong Kong Monetary Authority Published The September 2024 Issue Of The Hong Kong Monetary Authority Quarterly Report And The Semi-annual Report On Monetary And Financial Stability. The Quarterly Report Contains A Special Article Entitled "Hong Kong's Stablecoin Issuer Regulatory Regime", Which Discloses That The Hong Kong Monetary Authority And The Banking Industry Have Been Actively Exploring The Potential Application Scenarios Of Central Bank Digital Currencies And Tokenized Deposits, And Ultimately It Is Up To Users To Decide Which Options Best Suit Their Needs. The Inclusiveness Of Stablecoins Will Provide A Unique Opportunity To Help Develop Innovative Application Scenarios To Solve Some Pain Points In The Real World. The Participating Institutions Of The Launched Stablecoin Issuer Sandbox Have Also Proposed Other Use Cases, Including Web3, Games, And Virtual Asset Transactions. Depending On The Plans Of The Participating Institutions And The Progress Of The Test, The HKMA May Appropriately Adjust The Design Scenarios And Application Scope Of The Sandbox. If The Sandbox Participating Institutions Can Use Public Funds To A Limited Extent Due To The Adjustment Of The Test Scope, The HKMA Will Make A Separate Announcement. The Hong Kong Monetary Authority Also Disclosed That Following The Implementation Of The Licensing System For Virtual Asset Trading Platforms, The Treasury Bureau And The HKMA Are Fully Committed To Advancing The Drafting Of Legislation On The Implementation Of A Stablecoin Issuer Regulatory System In Hong Kong, And Strive To Submit The Relevant Draft Regulations To The Legislative Council For Deliberation Before The End Of 2024
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