Hong Kong plans to promote new regulations for cryptocurrency and infrastructure to guide insurance industry investments

Foresight News reported, citing Bloomberg, that Hong Kong plans to promote new regulations for cryptocurrency and infrastructure to guide insurance industry investments, with the insurance regulator imposing a 100% risk charge on crypto assets. According to the document, the risk charge for stablecoin investments will be determined based on the fiat currency to which the stablecoin is pegged under Hong Kong regulation. The regulator's proposal may still be adjusted and will be open for public consultation from February to April, after which it will be submitted to the legislative process.