State of TUSD Q4 2023
TrueUSD (TUSD) is a fully collateralized stablecoin that offers the security of real-world assets combined with the efficiency of blockchain technology. TUSD implements smart contracts for the minting and redemption processes, ensuring real-time onchain verification of the funds backing the coin. This process is reinforced by The Network Firm LLP, a U.S.-based auditing firm specializing in cryptocurrencies, as well as Chainlink's Proof of Reserve, which provides additional transparency and trust in the available reserves.
Hong Kong launches stablecoin regulation consultation
At the end of December Hong Kong launched a consultation on legislative proposals related to stablecoin issuers. The consultation is jointly run by the Hong Kong Monetary Authority (HKMA) which will be the stablecoin regulator and the Financial Services and the Treasury Bureau (FSTB). It runs until the end of February. Additionally, the HKMA plans to launch a regulatory sandbox for the same purpose.
