Yu Weiwen: Hong Kong has set relatively strict standards for stablecoin issuers, and it is expected that only a few licenses will be issued in the first phase

2025/06/23 16:50

PANews reported on June 23 that according to Jinshi Data, the Hong Kong Stablecoin Ordinance will take effect on August 1. Eddie Yue, Chief Executive of the Hong Kong Monetary Authority, said that Hong Kong has set strict standards for stablecoin issuers, and the regulatory requirements are almost the same as those for e-wallets and banks. It is expected that only a small number of licenses will be issued in the first phase. Approved stablecoins will be used for specific purposes, such as cross-border trade. The regulations have a comprehensive regulatory framework for risk management, asset reserves, stabilization mechanisms and anti-money laundering regulations to ensure the healthy development of the industry.

Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact [email protected] for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.
Share Insights

You May Also Like

Ethereum Foundation launches AI team to build an AI settlement layer

Ethereum Foundation launches AI team to build an AI settlement layer

The post Ethereum Foundation launches AI team to build an AI settlement layer appeared on BitcoinEthereumNews.com. The Ethereum Foundation has announced a dedicated AI team to make Ethereum the preferred settlement and coordination layer for AI agents and the emerging machine economy. Davide Crapis, a research scientist, will lead the team working closely with the Foundation’s Protocol and Ecosystem arms.  The Foundation revealed that the dAI Team will focus on two primary goals. The first is to give AI agents and robots mechanisms to pay, coordinate, and follow rules without intermediaries, which it described as the AI Economy on Ethereum. The second is to ensure AI development does not become dependent on a few centralized platforms by promoting open, verifiable, and censorship-resistant alternatives, which it described as the Decentralized AI Stack.  Ethereum aims to build an AI economy with the dAI Team Davide Crapis, the team’s lead research scientist, revealed in a post that the group aims to bridge the gap between blockchain and AI agents. He noted that AI will be a big part of all humanity and the future of Ethereum usage. He described AI as a new frontier for Ethereum compared to earlier waves of DeFi. He also pledged that the team will build technology and support the interoperability of AI agents on-chain.  We’re starting a new AI Team at the Ethereum Foundation (the dAI Team).Our mission: make Ethereum the preferred settlement and coordination layer for AIs and the machine economy. The team will focus on two main areas:– AI Economy on Ethereum = giving AI agents and robots ways… pic.twitter.com/9sWVS4dp0K — Davide Crapis (@DavideCrapis) September 15, 2025 The dAI Team will focus on the ERC-8004 standard, which allows AI agents to be discoverable, verifiable, and transactable across the Ethereum ecosystem. The standard is expected to be completed by November, and the final form will be presented at Devconnect in Buenos Aires. The…
Share
BitcoinEthereumNews2025/09/16 04:47
Share