Secretary for the Hong Kong Treasury Bureau: Target to issue stablecoin licenses within this year

Foresight News According to the Ming Pao report, Hong Kong Treasury Director Xu Zhengyu said that the HKMA is currently consulting the market for implementing the regulations and the guidelines will be announced within this month. The specific content will involve anti-money laundering and other related requirements. It also shows that the number of stablecoin licenses approved will be single digits, and it is expected that the application will be received after the regulations come into effect, and the goal is to issue a license within this year. As for whether a financial institution can issue stablecoins pegged to the RMB after obtaining a license, it means that if currencies involving other judicial power areas are involved, they need to be discussed with relevant institutions.
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