Hong Kong Misses March Deadline for Stablecoin Licences
Cointelegraph
The Hong Kong Monetary Authority has missed its March target for issuing the city's first stablecoin licences, providing no revised timeline for approvals.Summary
The Hong Kong Monetary Authority (HKMA) failed to meet its end-of-March goal for granting the city's inaugural stablecoin licences. While the HKMA confirmed that the licensing process is ongoing, it declined to provide a specific timeline for when approvals will be announced. The regulatory framework is notably strict, requiring issuers to maintain high-quality liquid reserves, ensure one-day redemption windows, and establish a physical presence in Hong Kong. This delay occurs as the city seeks to establish itself as a global fintech hub, though progress has been complicated by regulatory scrutiny from mainland China regarding privately controlled digital currencies.
(Source：Cointelegraph)