Yu Weiwen: Summary of the

Foresight News According to Foresight News, according to Zhitong Finance, Hong Kong Financial Administration President Yu Weiwen posted a message saying that he has noticed that fraud has recently occurred by selling digital assets and stablecoins, causing losses to the public. The Stablecoin Ordinance came into effect on August 1. According to the regulations, it is illegal to promote and promote any unlicensed stablecoins to the Hong Kong public from the date of entry into force. Yu Weiwen also said that she has noticed that there have been many rumors about the application process in the market recently. The HKMA will release a summary of the "stable coin issuer license system" next week. The document will explain the arrangements for the HKMA to accept and process license applications. Interested people please keep an eye on it.
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