🚨 Hong Kong Stablecoin Regulation Update

HKMA Deputy CEO, Darryl Chan, said the first stablecoin issuer license is expected to be granted in early 2026, but the number remains uncertain—dependent on the quality of applications. He emphasized the approval bar is “very high.”

The HKMA is open to fiat-pegging models—issuers may apply for stablecoins pegged to a single fiat currency or a basket of currencies, as long as the application clearly specifies the fiat denomination.

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