Market Chatter: Hong Kong to Issue First Stablecoin Licenses by Year-End

MT Newswires Live
07-08

Hong Kong plans to issue its first batch of stablecoin licenses within this year, The Standard reported Monday, citing Financial Services and Treasury Secretary Christopher Hui Ching-yu in an interview with local media.

With the stablecoin law set to take effect on Aug. 1, the Hong Kong Monetary Authority will consult the market and publish detailed implementation guidelines within the month, the report said.

Hui expects only a "single-digit" number of licenses to be issued in the initial phase and emphasized that fiat-backed stablecoins are not intended as speculative tools, according to The Standard.

He added that stablecoins could serve real-economy use cases such as cross-border payments, particularly in regions where local currencies face higher risk or financial systems are less developed.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

免責聲明:投資有風險,本文並非投資建議,以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請,作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考,不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證,投資者應自行研究並在投資前尋求專業建議。

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