Gate News message, April 11, Hong Kong Monetary Authority Deputy Chief Executive Chen Weimin said that what type of coin stablecoin issuers choose to issue mainly depends on the applicant’s own choice. Launching a Hong Kong dollar stablecoin first, and in the future issuing other denominations including the renminbi, is allowed under Hong Kong’s regulatory framework, but applicants also need to obtain approval from mainland regulatory authorities. Regarding when the second batch of stablecoin issuer licenses would be issued, Chen Weimin said there is currently no related timeline, but he has been maintaining communication with applicants who are interested in applying for licenses. In addition, HSBC stablecoin will be integrated with both PayMe and the HSBC HK App, supporting real-time transfers between individuals and individuals’ use of services for merchants (P2M).
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Japan's FSA Outlines Dual-Track Strategy for Digital Assets: Investor Protection and Financial Infrastructure
Gate News message, April 26 — Japan's Financial Services Agency is pursuing a two-pronged approach to digital asset regulation, balancing investor protection with infrastructure innovation, according to remarks by Shigeru Shimizu, Head of Risk Analysis at the FSA, delivered April 21 at a
GateNews1h ago
Tennessee Becomes Second U.S. State to Ban Crypto ATMs Statewide
Gate News message, April 26 — Tennessee has become the second U.S. state to outright ban cryptocurrency ATMs, with Gov. Bill Lee signing House Bill 2505 into law on April 13 after unanimous passage in both chambers. The law will take effect on July 1 and makes it a misdemeanor to operate or host
GateNews1h ago
Study Finds Only 3% of Polymarket Traders Are Skilled, Capturing Over 30% of Gains
Gate News message, April 26 — A new academic paper analyzing Polymarket transactions from 2023 through 2025 concludes that the platform's accuracy reflects "the wisdom of an informed minority, not the wisdom of the crowd." The research, revised April 25 by scholars from London Business School and
GateNews2h ago
DOJ Drops Probe into Powell, Clearing Path for Crypto-Friendly Kevin Warsh to Lead Fed
Gate News message, April 26 — The U.S. Department of Justice has dropped its criminal investigation into Federal Reserve Chair Jerome Powell, clearing the way for the Senate to confirm Kevin Warsh as the next Fed chair. U.S. Attorney for the District of Columbia Jeanine Pirro announced the
GateNews2h ago
US Sanctions Iran-Linked Crypto Wallets Holding $344M Frozen by Tether
U.S. Treasury Secretary Scott Bessent announced sanctions on multiple wallets linked to Iran as part of President Donald Trump's efforts to increase economic pressure on the country amid an ongoing ceasefire, according to CNN. The action followed Tether's freeze of $344 million in USDT on Tron,
CryptoFrontier3h ago
CFTC Faces Enforcement Crisis as 24% Staff Cuts Hit Insider Trading Oversight in Crypto and Prediction Markets
Gate News message, April 26 — The U.S. Commodity Futures Trading Commission (CFTC) has cut 24% of its workforce since Donald Trump returned to office, leaving the agency at its lowest staffing level in 15 years amid growing insider-trading risks across crypto, oil futures, and prediction markets. Th
GateNews3h ago
