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Data: Hong Kong Stablecoin License Expected to be Issued in Single Digits, with Dozens of Intending Applicants in Preparation Stage

6 hours ago

On July 8th, as per National Business Daily, the Hong Kong "Stablecoin Regulation" is set to come into effect on August 1st of this year. At that time, the Hong Kong Monetary Authority will commence accepting license applications. Hong Kong stablecoin licenses are relatively scarce and in high demand, with the anticipated number of licenses to be issued being in single digits. In addition to the already announced JD.com, Standard Chartered, RoundCoin, and others, more than 40 companies are preparing to submit applications. Law firms have indicated that dozens of other interested parties are currently in the consultation or document preparation stage. The applying institutions are mostly the largest financial institutions and internet companies in China, while some small enterprises intending to apply have very slim hopes.
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