The Hong Kong stablecoin regulations will take effect on August 1, and the first batch of licenses will be strictly controlled.

[Chain News] PANews reported on June 23 that according to data platform news, Hong Kong's "Stablecoin Regulation" will come into effect on August 1. Eddie Yue, the CEO of the Hong Kong Monetary Authority, stated that Hong Kong has established strict standards for stablecoin issuers, with regulatory requirements nearly on par with those for electronic Wallets and banks. It is expected that only a small number of licenses will be issued in the first phase. Approved stablecoins will be used for specific purposes, such as cross-border trade, etc. The regulation has a comprehensive regulatory framework for Risk Management, asset reserves, stabilization mechanisms, and AML laws, ensuring the healthy development of the industry.

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LiquiditySurfervip
· 06-23 09:22
Ah, I finally waited for Compliance.
Reply0
MEVHunterZhangvip
· 06-23 09:21
Deal the license slowly and steadily.
Reply0
SquidTeachervip
· 06-23 09:10
The Hong Kong government is really strict on regulation.
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SadMoneyMeowvip
· 06-23 09:02
Isn't the regulation too strict? How can it develop like this?
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gas_guzzlervip
· 06-23 08:55
Missed the first fragrance again.
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