Yu Weiwenz: The licensing approval standards for stablecoin issuers are very high, and only a few licenses will be issued in the early stages.
BlockBeats News, August 14: The Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority (HKMA) issued a joint statement regarding market volatility related to stablecoins. To maintain market integrity and investor protection, the SFC has a dedicated market surveillance team and a sophisticated, validated system to closely monitor trading activities in Hong Kong. In response to any manipulation or fraudulent behavior that may harm market integrity, the SFC will take strong action. Eddie Yue, Chief Executive of the HKMA, stated that the HKMA adopts a strict and cautious approach to approving stablecoin issuer licenses. The approval criteria are very high, and only a few licenses will be granted initially. As part of normal market communication, we have so far had preliminary discussions with multiple institutions regarding stablecoin licenses. These discussions, along with expressions of intent and applications for licenses, do not constitute approval of any institution nor do they imply any endorsement of their prospects for obtaining a license. (Financial Times)
You may also like

Kalshi early employees: Whoever controls the traffic controls the market

Tether signs contracts with four major audits, Circle's compliance moat collapses, stock price plummets by 20%

Proudly Introducing Aethir Claw: Your AI Agent, Our Infrastructure

Why Buying Gold Can Lead to Bankruptcy

If the US Treasury yield rises above 5%, will Bitcoin drop below $50,000?

Circle Plunges 20%: Crypto Earthquake Triggered by Draft Proposal

After the Smoke Clears: 5 Possible Endings to the Middle East Conflict

Stablecoin Yields Discontinued, Circle Plunges 20% in One Day

AI Wired into War Machine | Rewire News Nightly

Web3 is sick, but the cure is not AI

Why must Web3 projects be included in RootData?

Fluid Announces Updates on Resolv Hack Recovery and Compensation Plan
Key Takeaways Fluid has repaid approximately $70 million related to USR debts on the BNB and Plasma chains.…

Binance to Delist Key Spot Trading Pairs: What You Need to Know
Key Takeaways Binance is set to remove several spot trading pairs on March 27, 2026, at 11:00 AM…

Whale Activities in the Crypto Market: A Deep Dive into Recent Trends
Key Takeaways A significant whale deposit occurred 3 hours ago when 5.5 million USDT was moved to Binance…

Circle and Tether Freeze Iranian Exchange Wallex Wallet with $2.49M Assets on Hold
Key Takeaways Circle and Tether have frozen a significant amount of assets from an Iranian exchange called Wallex,…

James Wynn Engages in High-Leverage Bitcoin Short Position
Key Takeaways James Wynn recently opened a 40x leveraged short position on Bitcoin. His position involves 2.69 BTC,…

Major Whale Opens Significant 20x Leveraged Positions in ETH and BTC
Key Takeaways Whale 0x049b has executed large 20x leverage positions on 9,256 ETH and 282.47 BTC, totaling over…

New Whale Activity: 33,998 ETH Withdrawn from Kraken
Key Takeaways A new Ethereum whale with the address starting 0xD77 has withdrawn 33,998 ETH from Kraken. The…
