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WE-Launch
The Hong Kong Monetary Authority is about to announce the regulatory details for a Stablecoin License.
BlockBeats News, July 29th, the implementation of the Hong Kong "Stablecoin Regulation" is approaching. Multiple institutions have confirmed to reporters that the Hong Kong Monetary Authority (HKMA) will hold a technical briefing on the stablecoin issuer regulatory regime at 4:30 pm today. It is reported that the technical briefing will be hosted by senior HKMA teams, including Vice President Eddie Cheng, Assistant Vice President (Regulatory Compliance and Anti-Money Laundering) Chan King Weng, Assistant Vice President (Monetary Management) Ho Hon Kit, and Director of Digital Finance Ho Wang Che. The HKMA had previously stated that it would release a stablecoin-specific implementation guidance this month, clarifying core regulatory details such as anti-money laundering and customer identification. The regulator has also reminded the market to adopt a rational attitude and avoid excessive speculation. The number of initial stablecoin issuer licenses will be strictly limited to single digits and is planned to be issued by the end of the year. (Finance Infoday)
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