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Hong Kong Stablecoin Licensing Faces Delay as First Issuer Permits Miss Expected Timeline

The Hong Kong Monetary Authority (Hong Kong’s de facto central bank) said it is continuing the licensing process, while sources said early applicants are still being asked to revise submissions.

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Terms & Concepts
  • Stablecoin: A cryptocurrency designed to maintain a stable value, often by being pegged to a fiat currency such as the U.S. dollar.
  • Issuer license: A regulatory authorization that allows a company to legally issue and operate a financial product such as a stablecoin under local rules.
  • Hong Kong Monetary Authority: Hong Kong’s banking and monetary regulator, responsible for supervising parts of the city’s digital asset licensing framework.