Yu Weiwen: The threshold for approval of stablecoin issuers' licenses is very high, and only a few licenses will be approved in the initial stage.

According to Foresight News, Hong Kong President Huwei-wen, President of the Hong Kong Monetary Authority, said, "To maintain the integrity and stability of the market and to protect investors, the Hong Kong Securities and Exchange Commission has a dedicated market supervision team and an advanced and proven system to closely monitor trading activities in Hong Kong. The Hong Kong Securities and Exchange Commission will take strict actions against any manipulation or fraud that may damage the integrity and stability of the market. Huwei-wen, President of the Hong Kong Securities and Exchange Commission, said that the HKMA has adopted a strict and prudent attitude to approve the application for stablecoin issuers' licenses. The approval standard threshold is very high, and only several licenses will be approved in the initial stage. As a normal market communication, we have conducted preliminary communication with several institutions on stablecoin licenses. These communications and the expression of intentions for the license and application do not constitute approval of any institution, nor are they any recognition of its prospects for the approval of the license."

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