TechFlow news, August 1 — According to Jinshi Data citing Securities Times, Hong Kong's Stablecoin Ordinance has officially taken effect. The Hong Kong Monetary Authority has released the "Regulatory Guidelines for Licensed Stablecoin Issuers," setting out requirements for issuer license applications. Securities Times learned that note-issuing banks such as Bank of China (Hong Kong) and Standard Chartered Bank (Hong Kong) are expected to be among the first to apply for and obtain stablecoin issuer licenses. In addition, Chinese mainland banks, sandbox-tested firms, major state-owned enterprises, and large internet companies are also actively preparing their applications. Securities firms will initially focus on providing stablecoin trading, custody, and financing services.
As of the end of July, 44 financial institutions have upgraded their Type 1 securities trading licenses. Industry insiders warn that stablecoin business models remain unclear, and investors should beware of concept-driven speculation and associated risks.
