The Hong Kong Monetary Authority is about to announce the regulatory details for stablecoin licenses.

On July 29, with the implementation of the Hong Kong "Stablecoin Regulation" imminent, multiple institutions confirmed to reporters that the Hong Kong Monetary Authority will hold a technical briefing on the regulatory system for stablecoin issuers today at 4:30 PM. It is reported that the technical briefing will be hosted by the senior team of the Monetary Authority, including Vice President Chen Weimin, Assistant Vice President (Regulations and Anti-Money Laundering) Chen Jinghong, Assistant Vice President (Currency Management) He Hanjie, and Head of Digital Finance He Hongzhe, among others. The Hong Kong Monetary Authority previously stated that it would release the accompanying implementation guidelines for stablecoins this month, clarifying core regulatory details such as AML and customer identification. Regulators also remind the market to take a rational view and not to over-speculate, with the number of initial stablecoin issuer licenses strictly controlled to a single-digit figure, with plans to complete the distribution within the year. (Cailian Press)