TechFlow news, on July 29, according to Jinshi Data, the Hong Kong Monetary Authority has issued and implemented a regulatory regime for stablecoin issuers. Any institution intending to apply for a license to conduct regulated stablecoin activities should express its intention to the Licensing Division. This helps facilitate preliminary, informal discussions, enabling the Licensing Division to better understand the applicant's background and business model, and ensuring that applicants fully understand the licensing process and the Monetary Authority's requirements regarding minimum criteria. Such discussions can prevent premature applications and may shorten the processing time for subsequent formal applications. The Monetary Authority may exercise discretion in granting licenses and may authorize licensees to conduct any regulated stablecoin activities specified in the application, subject to any conditions the Monetary Authority considers appropriate. The Monetary Authority must not grant a license unless satisfied that the licensee will meet all applicable minimum criteria if the license is granted.
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