Deep Tide TechFlow News, on July 19, according to Caixin reports, sources reveal that the issuance of stablecoin licenses will not be conducted through a method where applicants download forms themselves and submit written applications uniformly. Instead, it will be arranged in a manner similar to an invitation application system. "On a practical operational level, the Hong Kong Monetary Authority, which is responsible for regulating licenses, will communicate in advance with potential stablecoin license applicants to understand whether they meet the basic application qualifications. Only upon obtaining basic recognition in the preliminary communication will the Monetary Authority issue the application forms."