Hong Kong Monetary Authority: Institutions intending to apply for licenses to conduct regulated stablecoin activities should express their intentions to the licensing group

According to Jinshi data, the Hong Kong Monetary Authority has issued regulations for the supervision of stablecoin issuers. Any institution intending to apply for a license to conduct regulated stablecoin activities should express their intentions to the licensing group. This will facilitate preliminary, informal discussions to allow the licensing group to better understand their background and business model, as well as ensure they fully understand the issuance process and the Commissioner of Financial Management's requirements for minimum standards. Such discussions can help avoid premature applications and shorten the time required for subsequent processing. If the Commissioner of Financial Management approves the license application, authorizing the licensee to conduct any regulated stablecoin activities involved in the application, the license may be subject to any conditions deemed appropriate by the Commissioner of Financial Management. Unless the Commissioner of Financial Management believes that the minimum standards applicable to the licensee will be met if the license is granted, the Commissioner of Financial Management shall not grant the license.

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