Hong Kong to Issue Limited Stablecoin Licenses in First Phase

Hong Kong is set to issue a limited number of licenses for stablecoin operations as part of the initial phase of its regulatory framework for digital currencies. This phase aims to establish a controlled environment for the development and use of stablecoins, allowing the authorities to carefully monitor and guide the implementation of these digital assets within the region. The decision to restrict the number of licenses during this first phase reflects a cautious approach, ensuring that the regulatory landscape is thoroughly tested and adjusted in response to potential challenges before broader issuance occurs. source: https://voiceofcrypto.online/ampstories/web-stories/hong-kong-to-issue-limited-stablecoin-licenses-in-first-phase