PANews July 19 news, according to Caixin reports, Hong Kong (Stablecoin Regulations) will take effect on August 1, 2025, and will simultaneously launch the stablecoin license application. Two sources told Caixin that the license for stablecoin issuers will not be conducted through a method where applicants download forms themselves and submit written applications uniformly, but will be arranged in a manner similar to an invitation application system. As one source explained, in practical operations, the Hong Kong Monetary Authority, responsible for regulating licensing, will communicate in advance with potential stablecoin license applicants to understand whether they meet the basic application qualifications. Only after obtaining basic recognition in the pre-communication will the Monetary Authority issue the application forms.
Another source revealed that the application scenario is one of the factors most valued by regulators, and it can be felt that the Hong Kong Monetary Authority is very cautious about granting licenses.