PANews, July 7th news, according to Jin Ten reports, the Hong Kong (Stablecoin Regulation) 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 guidelines for the regulation, which will be announced within this month. The specific content will involve anti-money laundering and other related requirements. He also indicated that the number of stablecoin licenses issued would be in single digits, and he hopes to receive applications after the regulation takes 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 with relevant institutions would be necessary.