Chief Executive of the Hong Kong Monetary Authority: Will implement long-term, continuous monitoring of stablecoin implementation

According to a report by the Hong Kong Wen Wei Po, Eddie Yue, Chief Executive of the Hong Kong Monetary Authority (HKMA), stated after attending a Legislative Council meeting yesterday that the HKMA will consider issuing new licenses once the first batch of stablecoins is launched. However, the number of licenses will still be strictly controlled based on market capacity and emerging risks, to prevent unrealistic market expectations regarding the number of licenses. The HKMA will also conduct long-term, continuous monitoring of stablecoin implementation.