Summary
- Hong Kong’s financial regulator said it will begin issuing official licences to stablecoin issuers from March.
- Eddie Yue Wai-man, chief executive of the HKMA, said the first licences will be granted in March to only a small number of applicants.
- He explained that the review will focus on the intended use of stablecoins, the risk management framework, anti-money laundering (AML), and the composition and stability of reserve assets.
Forecast Trend Report by Period
Hong Kong’s financial regulator is set to begin issuing official licences to stablecoin issuers from March.
According to Reuters on the 2nd (Korea time), Eddie Yue Wai-man, chief executive of the Hong Kong Monetary Authority (HKMA), told a meeting that “the vetting process for stablecoin issuer licence applications is in its final stage,” adding that “the first licences will be granted in March to only a small number of applicants.”
In a subsequent background briefing, Yue said “the legislature is currently preparing the review process, and the assessment will focus on the intended use of the stablecoin, the risk management framework, anti-money laundering (AML) measures, and the composition and stability of reserve assets.”
Uk Jin
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