Hong Kong Monetary Authority to Issue First Stablecoin Licenses in March

According to local media reports on the 2nd, the President of the Hong Kong Monetary Authority (HKMA), Eddie Yue, announced at a press conference on the same day that the HKMA aims to issue its first stablecoin operator licenses in March. To date, applications from 36 institutions have been received and are currently under review. Yue mentioned that some applicants have already been asked to submit additional information. The initial applications focused primarily on basic information, prompting further inquiries into specific use cases, risk management frameworks, and the composition of reserve assets. The aim is to issue the first licenses within March, once all necessary documentation is in place. However, Yue noted that this initial issuance...