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BTC $77,989.61 +4.91%
ETH $2,456.63 +5.75%
BNB $645.38 +3.09%
XRP $1.50 +5.51%
SOL $90.24 +5.07%
TRX $0.3255 -0.33%
DOGE $0.1017 +4.67%
ADA $0.2655 +5.17%
BCH $458.83 +4.21%
LINK $9.82 +4.82%
HYPE $45.20 +2.92%
AAVE $117.89 +7.95%
SUI $1.03 +5.29%
XLM $0.1757 +7.25%
ZEC $343.74 +2.56%

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Chen Weimin: The schedule for the issuance of the second batch of licenses has not yet been determined, and the total number of future licenses will be very limited

According to Tencent News' "Periscope," the Vice President of the Hong Kong Monetary Authority, Chen Weimin, stated that the timeline for issuing the second batch of licenses has not yet been determined, as it needs to be "based on the operational situation of the first two companies," and the total number of licenses in the future will be very limited.In addition, sources revealed that Chinese institutions that participated in the application submission have received "window guidance" from relevant departments, requesting them to postpone their participation in the stablecoin license application. However, some Chinese institutions have continued to communicate with the Hong Kong Monetary Authority over the past few months. After excluding Chinese institutions, the vast majority of the proposed applicants have limited capabilities, and there are not many qualified institutions that can fully meet the requirements of the "Stablecoin Regulation."Lee Kuan-hong, the head of HSBC Payme, told reporters that any Payme user can open a stablecoin account. In the stablecoin account, users can directly transfer money to friends and family, transfer to merchants, or invest in products linked to stablecoins. Users in the HSBC app cannot directly open an account; they must wait for HSBC to screen eligible users before applying for a stablecoin account.Payme account opening has required users to be local residents of Hong Kong, while users of the HSBC app also include mainland users. Under the existing management framework in Hong Kong, only local residents can participate in virtual asset trading, and mainland customers, even if they are mobile payment users of HSBC Hong Kong, cannot apply for a stablecoin account.

Analysis: Affected by the bear market, 21 cryptocurrency projects announced closures or service reductions

According to statistics from DeFi analysts, affected by the bear market, 21 cryptocurrency projects have recently announced closures or significant reductions in services, covering the fields of DeFi, NFT, wallets, and gaming.Among them, Leap Wallet will completely shut down all products on May 28, and users need to migrate their assets to Keplr or MetaMask as soon as possible. Magic Eden has decided to close ME Wallet and focus on the NFT market and infrastructure on Solana, with the wallet ceasing operations on May 1. Fantasy Top plans to take non-core functions offline in mid-June to concentrate resources on prediction market games.In the DeFi sector, Angle Protocol has stopped its stablecoin business due to reduced activity and increased competition, while ZeroLend and Polynomial Finance have scaled back services due to insufficient liquidity and low trading volume. The NFT platforms Nifty Gateway and Sound.xyz have closed some operations due to market changes and strategic adjustments.In addition, gaming projects like Runiverse and Pixiland Social have paused blockchain-related operations due to high development costs and regulatory uncertainties, while projects like Dmail, Yupp AI, and DataHaven have been forced to exit due to funding issues or market changes.Analysts believe that this industry reshuffle is a necessary reconfiguration of the market, and Web3 projects that prioritize actual utility and sustainable economic models will be more competitive in the future.
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