Hong Kong authorities will grant the jurisdiction’s first stablecoin issuer licenses during the first quarter, Financial Secretary Paul Chan disclosed. Speaking at the World Economic Forum in Davos, Chan outlined the timeline for approvals under the city’s stablecoin regulatory framework that became effective last August.
The Hong Kong Monetary Authority will evaluate applications under compliance standards covering reserve asset management, par value redemption guarantees, client fund segregation, and anti-money laundering protocols.
Companies seeking to offer or market stablecoins to retail investors must secure regulatory approval before operations commence. Authorities have not identified which applicants will receive initial licenses.
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