Only Hong Kong incorporated entities licensed by the HKMA would be allowed to actively market stablecoins to the local public.
Prospectuses have been filed by Vertex Technology Acquisition Corporation, Pegasus Asia, and Novo Tellus Capital Partners.
OJK will work on developing a carbon exchange at IDX, new derivative instruments, and central clearing infrastructure.
The changes will address distortions and frictions in the payment card market and foster greater usage and acceptance of payment cards, BNM says.
Three-tiered investment will increase flexibility for asset management companies and enable them to manage their asset allocation more efficiently, the SEC said.
Offline digital payments are expected to benefit areas with weak internet or telecom connectivity, particularly semi-urban and rural areas.
The macroprudential policy toolbox will include measures that can be used to adjust the banks' required capital and liquidity levels or assign new risk weights to specific sectors.
Market conduct risk assessments should be done at least annually, to serve as a systematic method for assessing susceptibility to misconduct and documenting mitigating actions or controls.
The MoU aims to formalise the establishment of a collective, coordinated, and strategic cyber response within the banking industry.
A mystery shopping programme is being launched by the HKMA, MPFA and IA to assess the extent to which statutory and regulatory objectives are being met by intermediaries.