CITIC Securities: Focus on Potential Recipients of the First Batch of Hong Kong Stablecoin Licenses

BlockBeats News, July 30th. On July 29th, Citic Securities' research report stated that the Hong Kong Monetary Authority issued a series of documents on the regulatory framework for stablecoin issuers set to take effect on August 1st. The core document is the "Licensed Stablecoin Issuer Regulatory Guidance," and the most significant guidance document in the current application phase is the "Stablecoin Issuer Licensing Regime Summary Description." Looking at the timeline, the Monetary Authority encourages prospective applicants to reach out to regulators by August 31st, with mature applicants having until September 30th to apply. The initial number of licenses is expected to be in the single digits, with a potential launch by the end of the year. It is recommended to continue monitoring stablecoin issuers who may obtain the first batch of scarce licenses and scenario platforms that are actively involved in creating stablecoin use cases. (Jinse)