Hong Kong Monetary Authority: Any institution intending to apply for a license to conduct regulated stablecoin activities should express its intention to the licensing team

ChainCatcher news, according to Jinshi Data reports, the Hong Kong Monetary Authority has issued and implemented a regulatory framework for stablecoin issuers. Any institution intending to apply for a license to conduct regulated stablecoin activities should express its intention to the licensing team. This move facilitates preliminary, informal discussions, allowing the licensing team to gain a deeper understanding of the institution's background and business model, as well as ensuring that they fully understand the licensing process and the minimum criteria required by the Financial Commissioner.

Such discussions can prevent applications from being submitted prematurely and can also shorten the time required to process subsequent applications. If the Financial Commissioner grants a license based on the decision regarding the license application, it authorizes the institution to conduct any regulated stablecoin activities involved in the application, and the license may be subject to any conditions deemed appropriate by the Financial Commissioner. The Financial Commissioner shall not grant a license unless they are satisfied that the applicable minimum criteria for the licensee will be met if the relevant license is granted.