TechFlow news, August 1 — According to the 21st Century Business Herald, Hong Kong's Stablecoin Ordinance officially came into effect today. Previously, the Hong Kong Monetary Authority (HKMA) repeatedly emphasized its stance of "high thresholds," "only a few licenses in the first batch," and "pre-application communication," which the market widely interpreted as an "invitation-only system." However, HKMA officials stated that the term "invitation-only" is not an official designation but rather a market interpretation. The phrase "by invitation" does not fully reflect the HKMA's actual licensing approach, as institutions genuinely interested in applying may proactively initiate discussions with the HKMA about licensing matters in advance.
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