香港穩定幣法案瞄準金融穩定與創新

香港推出《穩定幣法案》來監管法幣支持的穩定幣發行人，確保虛擬資產的財務穩定性和透明度。

Hong Kong is taking a proactive approach to regulating virtual assets within its jurisdiction. In line with this effort, the Stablecoins Bill was presented for its second reading at a legislative council meeting on December 18. This bill aims to establish a legal framework for fiat-backed stablecoins.

香港正在採取積極主動的方式監管其管轄範圍內的虛擬資產。為了配合這項努力，《穩定幣法案》在 12 月 18 日的立法委員會會議上進行了二讀。

With the increasing popularity of blockchain technology and virtual assets, Hong Kong is making a concerted effort to enhance its legal and regulatory landscape in this domain. In a bid to foster a robust virtual asset ecosystem, the government introduced a licensing regime for virtual asset service providers two years ago. This regime ensures adherence to anti-money laundering (AML) and counter-terrorism financing regulations, with several trading platforms already licensed under this framework.

隨著區塊鏈技術和虛擬資產日益普及，香港正在齊心協力加強該領域的法律和監管環境。為了培育強大的虛擬資產生態系統，政府兩年前推出了針對虛擬資產服務提供者的授權制度。該制度確保遵守反洗錢（AML）和反恐融資法規，多個交易平台已在此框架下獲得許可。

Recognizing the significance of fiat currency-backed stablecoins in bridging the traditional and digital economies, the government has identified their potential to emerge as widely accepted payment instruments. However, to mitigate any risks to financial stability that may arise from insufficient oversight, the Stablecoins Bill serves as a crucial measure.

政府認識到法定貨幣支持的穩定幣在連接傳統經濟和數位經濟方面的重要性，並確定了其成為廣泛接受的支付工具的潛力。然而，為了減輕監管不足可能帶來的金融穩定風險，《穩定幣法案》是一項關鍵措施。

The bill proposes a licensing regime for any individual or entity that provides or markets fiat-backed stablecoins within Hong Kong. This includes activities such as creating stablecoins pegged to the Hong Kong dollar or engaging in awareness campaigns among the general public.

該法案為在香港提供或銷售法幣支持的穩定幣的任何個人或實體提出了許可製度。這包括創建與港幣掛鉤的穩定幣或在公眾中進行宣傳活動等活動。

Crucially, stablecoin issuers will be required to maintain a strong reserve system, ensuring that the assets backing stablecoins are highly liquid and correspond to the volume of circulating stablecoins. Additionally, they must facilitate the conversion of stablecoins at face value within a reasonable timeframe and without excessive charges.

至關重要的是，穩定幣發行人需要維持強大的儲備體系，確保支持穩定幣的資產具有高度流動性，並與穩定幣的流通量相對應。此外，他們必須在合理的時間範圍內促進穩定幣以面額兌換，且不收取過高費用。

Hong Kong Stablecoin Bill Strikes a Balance between Innovation, Financial Stability

香港穩定幣法案在創新與金融穩定之間取得平衡

It is worth noting that the bill also incorporates provisions related to AML, risk and transparency. In Hong Kong, only licensed persons, including authorized banks, virtual asset trading platforms and other licensed institutions, will be permitted to sell stablecoins, ensuring that only credible institutions participate in the market.

值得注意的是，該法案還納入了與反洗錢、風險和透明度相關的條款。在香港，只有持牌人士，包括授權銀行、虛擬資產交易平台和其他持牌機構，才允許出售穩定幣，確保只有可信賴的機構參與市場。

To effectively carry out the bill's provisions, the Hong Kong Monetary Authority (HKMA) will be entrusted with supervisory and investigative responsibilities. This entails issuing regulations, supervising licensed issuers and investigating potential cases of non-compliance.

為有效執行該法案的規定，香港金融管理局（金管局）將承擔監管和調查職責。這需要發布法規、監督持牌發行人並調查潛在的違規案例。

In line with Hong Kong's approach of "same business, same risks, same rules," the bill aims to categorize virtual assets as financial assets, reflecting the risks they pose. Throughout the previous year, extensive public consultations were conducted, revealing support for the proposed regime among the community.

根據香港「相同業務、相同風險、相同規則」的做法，該法案旨在將虛擬資產歸類為金融資產，反映其帶來的風險。去年全年，我們進行了廣泛的公眾諮詢，顯示出社區對擬議制度的支持。

Ultimately, the Stablecoins Bill forms a pivotal step towards establishing a well-regulated and innovative virtual asset market within Hong Kong. It strives to strike a balance between fostering innovation and ensuring financial stability, ultimately protecting both investors and the broader financial system.

最終，《穩定幣法案》為香港建立監管良好和創新的虛擬資產市場邁出了關鍵一步。它致力於在促進創新和確保金融穩定之間取得平衡，最終保護投資者和更廣泛的金融體系。