🏦 Hong Kong takes a tougher stance on stablecoins

The director of the HKMA, Eddie Yue, announced that Hong Kong is now applying strict standards for stablecoin issuers.

🔐 The entry requirements are comparable to those of banks and e-wallets.

📌 Only a few licenses will be issued initially, targeting specific uses such as cross-border trade.

💡 The regulation focuses on :

reserve management,

stabilization mechanisms,

redemption policies,

and anti-money laundering.

🎯 Objective: to regulate risks in a manner equivalent to that of financial institutions, to promote healthy and sustainable development of the sector.