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HKICPA to Release Stablecoin Audit Guidelines Within Six Months

President Roy Lo confirms coordination with the HKMA (Hong Kong's central banking institution) to finalize virtual asset accounting standards by year-end.

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Terms & Concepts
  • HKICPA: The Hong Kong Institute of Certified Public Accountants, the statutory body responsible for regulating the accounting profession in Hong Kong.
  • HKMA: The Hong Kong Monetary Authority, the government authority in Hong Kong responsible for maintaining monetary and banking stability.
  • Stablecoin: A cryptocurrency designed to have a relatively stable price, typically through being pegged to a commodity or currency or having its supply regulated by an algorithm.