Caixin: Applications for the second batch of Hong Kong-compliant stablecoin licenses are underway

According to Caixin, applications for the second batch of Hong Kong-compliant stablecoin licenses are underway. Reliable sources revealed that Futu Securities and OSL Group are among the contenders for the second batch of licenses. However, in November last year, China’s People’s Bank of China and 12 other ministries reiterated their stance on cracking down on virtual currency trading within mainland China and classified stablecoins as virtual currencies—meaning stablecoin trading will not be permitted in mainland China.