Yú Wěi Wén: Strive to issue stablecoin licenses in March

AASTOCKS
2026.02.02 02:43

The President of the Hong Kong Monetary Authority, Richard Yu, stated after the meeting of the Finance Committee that they have received 36 applications for stablecoin licenses, which are nearly completed for review. Additional information requests have been made to some institutions, including details on application scenarios, risk management, anti-money laundering arrangements, and reserve assets. The authorities aim to issue stablecoin licenses in March, but the number of licenses in the first round will definitely not be large.

Additionally, last Friday afternoon, HSBC's computer system experienced a failure, and some users reported being unable to log in. Richard Yu indicated that he has requested the bank to conduct a detailed follow-up investigation report to reduce the likelihood of similar incidents occurring in the future. Preliminary understanding suggests that this failure was an internal system issue and not related to a cyber attack

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