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Christopher Hui: HKMA Aims to Issue 'Single-Digit No.' of Stablecoin Licenses This Yr
Christopher Hui, Hong Kong's Secretary for Financial Services and the Treasury, noted that the Hong Kong Monetary Authority (HKMA) is currently consulting the market on the imp...
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Christopher Hui: HKMA Aims to Issue 'Single-Digit No.' of Stablecoin Licenses This Yr
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Christopher Hui, Hong Kong's Secretary for Financial Services and the Treasury, noted that the Hong Kong Monetary Authority (HKMA) is currently consulting the market on the implementation guidelines for the Stablecoins Ordinance that will be announced within this month, according to Ming Pao. It is understood that the guidelines will cover anti-money laundering and other related requirements.

Hui also revealed that the HKMA aims to issue a "single-digit" number of stablecoin licenses within this year. As for whether financial institutions can issue stablecoins pegged to the RMB after obtaining a license, he said this involves currencies from other jurisdictions and will require discussions with the relevant authorities.

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