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Hong Kong Monetary Authority Deputy Chief Executive: The threshold for the first stablecoin issuer license application is "very high," and entering the "sandbox test" does not guarantee approval.

吴说Jul 30, 2025
#DeFi
According to the Daily Economic News, Hong Kong Monetary Authority Deputy Chief Executive Howard Chan said that the first stablecoin issuer license is expected to be issued in early 2026, with a "high" application threshold. Entering the "sandbox test" does not guarantee approval, and not yet entering does not mean disqualification from applying. The HKMA emphasized that licensing will be an ongoing process, and the completeness of the application materials and the feasibility of the plan will be key to approval. The HKMA also stated that it will be open to pegged currencies, but if it intends to peg to the RMB, it will make a specific assessment based on its degree of free convertibility and application scenarios. [Wu Blockchain]
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Hong Kong Monetary Authority Deputy Chief Executive: The threshold for the first stablecoin issuer license application is "very high," and entering the "sandbox test" does not guarantee approval.

吴说Jul 30, 2025
#DeFi
According to the Daily Economic News, Hong Kong Monetary Authority Deputy Chief Executive Howard Chan said that the first stablecoin issuer license is expected to be issued in early 2026, with a "high" application threshold. Entering the "sandbox test" does not guarantee approval, and not yet entering does not mean disqualification from applying. The HKMA emphasized that licensing will be an ongoing process, and the completeness of the application materials and the feasibility of the plan will be key to approval. The HKMA also stated that it will be open to pegged currencies, but if it intends to peg to the RMB, it will make a specific assessment based on its degree of free convertibility and application scenarios. [Wu Blockchain]
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