Deep Tide TechFlow News, on July 7, according to Jinshi Data citing Ming Pao, the "Stablecoin Regulations" in Hong Kong will take effect in August. The Secretary for Financial Services and the Treasury, Christopher Hui, stated that the Monetary Authority is currently consulting the market on the implementation of the regulatory guidelines, which will be announced this month. The specific content will involve anti-money laundering and other related requirements. He also indicated that the number of stablecoin licenses granted will be in single digits, hoping to receive applications after the regulations take effect, with the goal of issuing licenses within this year. As for whether financial institutions that obtain licenses can issue stablecoins pegged to the Renminbi, he said that if it involves currencies from other jurisdictions, discussions would need to take place with the relevant authorities.