Hong Kong to Issue Initial Licenses for Stablecoin in March 2024

Hong Kong plans to approve a limited number of stablecoin licenses by March, as their review process reaches its final stages.

According to reports from Hong Kong's monetary authority, the city is set to begin issuing licenses for stablecoin providers starting in March 2024. This move marks a significant step in the regulatory landscape for cryptocurrencies in the region.

The authority has indicated that only a select few stablecoin issuers will be granted licenses initially, as the evaluation of applications is nearing its conclusion. This strategic approach aims to ensure a controlled and secure introduction of stablecoins into the local market.