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Data: Hong Kong Expects Single-Digit Number of Stablecoin Licenses to be Issued, Dozens of Companies in Preparation Stage
Summary: According to reports, Hong Kong's 'Stablecoin Regulations' will take effect on August 1 this year, at which point the Hong Kong Monetary Authority will begin accepting license applications. Stablecoin licenses in Hong Kong are scarce and in high demand, with only a single-digit number of licenses expected to be issued. Apart from the already announced ...
According to reports, Hong Kong's 'Stablecoin Regulations' will take effect on August 1 this year, at which point the Hong Kong Monetary Authority will begin accepting license applications. Stablecoin licenses in Hong Kong are scarce and in high demand, with only a single-digit number of licenses expected to be issued. Apart from the already announced JD.com, Standard Chartered, Circle, and others, over 40 companies are preparing to submit applications, with feedback from law firms indicating that dozens more are currently in the consultation or document preparation stage. The applying institutions are mostly China's largest financial institutions and internet companies, while some small companies intending to apply have slim hopes.
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Link: Data: Hong Kong Expects Single-Digit Number of Stablecoin Licenses to be Issued, Dozens of Companies in Preparation Stage [Copy]
