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HKMA Releases Stablecoin License Application Process; Institutions Can Express Interest from 1-31 Aug
The Hong Kong Monetary Authority (HKMA) released the stablecoin license application process, which will be implemented in a gradual approach.From 1 to 31 August, institutions consi...
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HKMA Releases Stablecoin License Application Process; Institutions Can Express Interest from 1-31 Aug
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The Hong Kong Monetary Authority (HKMA) released the stablecoin license application process, which will be implemented in a gradual approach.

From 1 to 31 August, institutions considering applying for a stablecoin issuer license can express their interest by contacting the HKMA via email. The HKMA will arrange meetings with interested institutions to discuss their concepts and plans for issuing stablecoins, allowing individual institutions to decide whether to formally submit an application.

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Institutions that decide to apply can submit their applications and required information to the HKMA by 30 September. A dedicated task force at the HKMA will review the submitted information, and request detailed and supplementary information based on the maturity of the applications.

The task force will submit its recommendations for the first phase of licensing list to the HKMA for its decision. The authorities will announce the names of several stablecoin issuers that have been granted licenses in the first phase in due course.

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