Hong Kong Crypto Regulation Tightens With Limited Stablecoin Licenses

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Story Highlights* HKMA begins its stablecoin licensing process, approving only a few licenses despite 77 applications.

  • Major banks like ICBC, Bank of China (HK), HSBC, and Standard Chartered are front-runners in the race.
  • The cautious rollout sets a global example for stablecoin regulation, with focus on oversight and transparency.
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