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Regulators Reveal Unsurprisingly Overwhelming Support for Their Own Regulations – 108 People Agree With Them

Crypto NewsHackNFTs 1 Kevin Nelson August 15, 2024

An illustration: A cartoon regulator stands proudly in front of an overflowing mailbox filled with letters labeled as 'Support', while another figure representing public opinion looks on skeptically from behind. The background features Hong Kong's skyline at sunset amidst swirling clouds that resemble regulatory frameworks, and a faint image of the stablecoin logo is visible near the horizon. In contrast to the regulator's triumphant pose, their shadow appears hesitant or uncertain about something in the distance.

The never-ending circus continues as Hong Kong tries its hand at regulating something it clearly has no idea about – cryptocurrency. With 108 submissions from stakeholders (whatever those are), regulators claim to have received positive feedback on their proposed regulatory requirements for stablecoins. Because, you know, the last thing we need is more red tape and bureaucratic nonsense strangled onto an already dying industry

Source: bitcoin.com

Hong Kong Regulators Say Proposed Stablecoin Regulation Has Received Positive Stakeholder Feedback
https://news.bitcoin.com/hong-kong-regulators-say-proposed-stablecoin-regulation-has-received-positive-stakeholder-feedback
Hong Kong regulators announced the conclusion of a stablecoin regulation consultation phase that saw stakeholders provide 108 submissions. The regulators claimed that the proposed regulatory requirements received positive feedback from stakeholders. On July 17, Hong Kong regulators—the Financial Services and the Treasury Bureau (FSTB) and the Hong Kong Monetary Authority (HKMA)—jointly issued consultation conclusions on proposals for a stablecoin regulatory regime. During the two-month consultation period, they received 108 submissions […]

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About the author

Kevin Nelson

Kevin’s foray into cryptocurrency trading was a full-scale disaster. His obsession with chasing trends and leveraging obscure assets led to a catastrophic loss of his entire life savings. Now, Kevin’s articles are a venomous mix of bitter humor and harsh reality checks, exposing the chaotic and treacherous world of crypto trading. His catchphrase: “I went from trading genius to broke fool in record time. Welcome to crypto—where the only thing guaranteed is your financial ruin.”

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Disclaimer

The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

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