CoinVoice has recently learned that the President of the Hong Kong Monetary Authority, Yu Weiwen, has again discussed stablecoins. He mentioned that after the 'Stablecoin Regulations' are passed, we will immediately implement the regulatory and anti-money laundering guidelines and seek market opinions. Currently, we are appropriately adjusting the guidelines based on feedback, aiming to announce them by the end of July.

We expect that the final draft will not have significant changes from the consultation draft, and in view of the common concerns of international regulation, stricter requirements will be established in terms of anti-money laundering to minimize the risk of stablecoins being used as tools for money laundering, ensuring the orderly and healthy development of Hong Kong's stablecoin market. We have also noted the recent rumors in the market regarding the application process, and we will announce a summary of the 'Stablecoin Issuer Licensing System' next week. The document will outline the arrangements for the HKMA to accept and process license applications. [Original link]