BlockBeats news, August 14, the Hong Kong Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority (HKMA) issued a joint statement regarding market fluctuations related to stablecoins. To maintain market integrity and stability and to protect investors, the SFC has a dedicated market surveillance team and advanced, validated systems to closely monitor trading activities in Hong Kong. The SFC will take severe action against any manipulation or fraudulent behavior that may harm market integrity and stability. HKMA Chief Executive Eddie Yue stated that the HKMA adopts a strict and prudent approach to approving stablecoin issuer license applications. The approval standards are very high, and initially, only a few licenses will be granted. As part of normal market communication, we have had preliminary discussions with several institutions regarding stablecoin licenses. These communications and expressions of intent and applications for licenses do not constitute approval for any institution, nor do they imply any recognition of their prospects for obtaining an approved license. (Jinshi)