Hong Kong Stablecoin Bill to Take Effect on August 1st


On July 8, it was reported that the HK Stablecoin Regulation will come into force on Aug 1, with license applications opening the same day.


Key Points:




šŸŽÆ Only single-digit number of licenses expected




šŸ¦ 40+ firms preparing applications incl. JD.com, Standard Chartered, Circle




āš–ļø Major Chinese financial & tech giants dominate the list




šŸ˜“ Smaller firms see little hope under tight criteria




šŸ’” Stablecoins are becoming a strategic pillar in HK's Web3 blueprint.


#Stablecoin #HongKong #CryptoRegulation