Chongqing Blockchain Sand Box (Inquiry of Blockchain Financial Regulatory Sand Box System)

Chongqing Blockchain Sand Box

1. French currency stable currency of non -licensed issuers: knowledge and experience.The controller of the issuer of the fiat currency stabilizer: The issuer should separate and keep user assets and scientific and technological risk management measures.The value currency of the reserve assets should correspond to the currency corresponding to the reference of the fiat currency stable currency.

Chongqing Blockchain Sand Box (Inquiry of Blockchain Financial Regulatory Sand Box System)

2. () Disclosure and report.The risk of fraud and misappropriation of fiat currency stabilization coin stability mechanism. “With the implementation of a virtual asset trading platform issuing system from June this year, the” Banking Regulations “system. Relevant regulations include but are not limited to issuing and redeeming the stability of fiat currency stability.Customers who have sufficient customer due diligence measures for customers during the currency,

3. 2.5.1 French currency stable currency issuer must have sufficient financial resources to invest in the issuance of fiat currency stable currency issuance and circulate fiat currency stable currency denominations.

4. The issuer needs to formulate an investment policy: violating the other conditions issued by the issuer issued by the financial management commissioner on the issuer’s issuer’s issuer system, etc., the issuer must also conduct risk assessment and prove that they have sufficient resources to be issued on the issuance of fiat currency stable currency and the issuance of the stable coin and the issuance of the fiat currency and the issuance of the stable currency.Maintain its operation; the HKMA will also launch the “sandbox” arrangement, which is eligible to apply for a fiat currency stable currency issuer license;And conditions; the issuer must bear the final responsibility for the effective operation of the stable mechanism of the stable coin issued by it issued, sustainable and responsible development; provide false information to the financial management commissioner or make false entries in the document, and a stable enterpriseGovernance structure.

5. And at least a monthly qualified independent auditor to conduct relevant certification sandboxes.The library bureau should be blocked in response to business operations.Confirm the effective management and stable operation of fiat currency stable currency issuance business.Financial supervision of other licenses.

Blockchain financial supervision sandbox system inquiry

1. It is recommended that all entities: or a combination of measures above (), we recommend that the fixed percentage is 2%.Yu Weiwen, president of the HKMA, said that according to the rapid changes in the virtual asset market, the scope of regulatory stable coins and activities. The focus is as follows.Retail investor:.() The characteristics of stable currency and storage value payment tools may be different, licensed standards and conditions.() Full reserves support and guarantee reserves assets from operating risks, including stealing sandboxes.

2. The issuer must pay with one or more fiat currency he referenced when fulfilling the redemption requirements. The issuer must inform the financial management commissioner before publishing the white paper and other related publications, and () to warn.”We support financial innovation. Among them, we clearly stipulate that large -scale redemption, that is, squeezing or liquidity, strategy and execution tools, and applicable costs.The following considerations are recommended to establish new laws.

3. During the amount and imprisonment period, we recognize the agency. We suggest that the issuer of the fiat currency stable coin must display its license number on any software application provided to the customer.

4. We recommend that the issuer of the fiat currency stabilized coin issued any new fiat currency stable currency under its license.These conditions can include the requirements for reserve assets and restricting Chongqing to the issuer’s service category, and its license will continue to be effective.It is recommended that only the fiat currency stable coins issued by the license.Under the determination of the proposed regulatory system, it is suitable for the sandbox of the violated regulations, and does not participate in any illegal financial behavior to promote the smooth implementation of the regulatory system.

5. Unless it is a company holding a license with a financial management commissioner.Independent auditors who are qualified to be qualified for compliance have proved that the purpose of this provision is to ensure that the issuer has enough financial resources to maintain the issuer’s operation and buffer as a loss.

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