On 12 March 2024, the Hong Kong Monetary Authority (HKMA) announced the launch of a stablecoin issuer sandbox arrangement, aiming to regulate the cryptocurrency sector and establish Hong Kong as a regional hub for digital finance. This initiative invites stablecoin issuers to apply for participation, with the list of participants to be made available and updated on the HKMA website, as reported by @iamsandali. The move is part of a broader effort to regulate the crypto sector in Hong Kong, with industry players also advocating for the swift approval of Bitcoin ETFs.