Аналитики Elliptic оценили суровость режима регулирования стейблкоинов в Гонконге

cryptonews.ruОпубліковано о 2025-08-22Востаннє оновлено о 2025-08-22

Исследователи Elliptic напомнили, что 1 августа в Гонконге официально вступил в силу новый режим регулирования эмитентов стейблкоинов. Его запуск стал важным шагом в стратегии города по превращению в глобальный центр криптоинноваций с высоким уровнем нормативной прозрачности. Новая база основана на законе о стабильных монетах, принятом Законодательным советом Гонконга в мае 2025 года.

Для реализации режима Управление денежного обращения Гонконга (HKMA) опубликовало 2 ключевых руководства. Первое — по надзору за лицензированными эмитентами стейблкоинов. Оно определяет требования к управлению резервами, выпуску и погашению токенов, финансовой устойчивости и системе менеджмента рисками. Минимальный капитал для эмитентов установлен на уровне 25 млн гонконгских долларов (HKD) или примерно $3,185 млн.

Эксперты пояснили: HKMA требует, чтобы все компании имели четкую и доступную политику погашения токенов, а также проводили регулярную оценку устойчивости через стресс-тестирование. Кроме того, в документе подробно описаны обязательства по обеспечению технологической безопасности — включая защиту кошельков, управление приватными ключами и меры против киберугроз.

Отдельное руководство посвящено борьбе с отмыванием денег и финансированием терроризма (AML/CFT). В нем подчеркивается необходимость внедрения риск-ориентированных систем мониторинга транзакций на этапах выпуска и погашения стейблкоинов. Эмитенты должны уметь выявлять подозрительную активность и анализировать источники и получателей средств.

В Elliptic подчеркнули, что особое внимание уделено инструментам блокчейн-исследований. Эмитенты обязаны проверять используемые кошельки, включая оценку решений по аналитике на предмет их качества, полноты и надежности данных. Также все участники должны соблюдать требования Travel Rule — включая передачу идентификационной информации между регулируемыми организациями при переводах. В HKMA заявили, что будет крайне избирательно подходить к выдаче лицензий на начальном этапе. Компании, желающие подать заявку, должны связаться с HKMA до 31 августа.

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