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Hong Kong Sets High Bar for Stablecoin Issuers Ahead of August Regime Launch
Hong Kong Sets High Bar for Stablecoin Issuers Ahead of August Regime Launch
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BTCCSquare news:
Hong Kong’s stablecoin licensing framework takes effect August 1, with the HKMA adopting a selective approval approach. Only issuers demonstrating robust operational controls—including cross-jurisdictional compliance capabilities and reserve safeguards—will clear the initial hurdle.
Eddie Yue, HKMA Chief Executive, emphasized prudent operations and market trust-building as licensing prerequisites. The authority aligns its supervisory framework with FSB guidelines, reflecting global regulatory coordination efforts.
Asset protection mechanisms and anti-money laundering protocols FORM critical evaluation criteria. The phased rollout suggests deliberate market development, contrasting with blanket authorization approaches seen elsewhere.
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