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Crypto
Hong Kong regulator issues first stablecoin licences to HSBC and Anchorpoint
Hong Kong\'s monetary authority has issued the city’s first stablecoin licences to HSBC and Anchorpoint Financial, The Block reported on Thursday. Anchorpoint Financial is a joint venture set up by Standard Chartered, Animoca Brands and Hong Kong telecoms company HKT. The Hong Kong Monetary Authority added HSBC and Anchorpoint Financial Limited to its list of stablecoin licence holders. CEO Eddie Yue called the move a milestone for digital assets.
Crypto
Hong Kong to approve first stablecoin licence in March
Hong Kong plans to approve its first licence for stablecoin issuance in March. While China has maintained a hardline stance on cryptocurrencies, Hong Kong is pushing regulatory easing and stressing its autonomy as a financial hub. CNBC reported that Hong Kong Monetary Authority chief executive Eddie Yue told a Legislative Council meeting the first licence would be issued by March. The HKMA has received 36 applications so far. Hong Kong also plans to develop cross-border payments using stablecoins and a tokenised deposit system.
Crypto
Hong Kong to issue first stablecoin issuer licences in March
Hong Kong’s monetary authority will issue its first stablecoin issuer licences in March, Cointelegraph reported, citing Reuters. HKMA Chief Executive Eddie Yue said reviews of licence applications were nearly complete and that only a very small number would receive initial approval. Authorities are evaluating applicants based on use cases, risk management, AML controls and the quality of reserve assets. Issuers must also comply with Hong Kong rules on cross-border activities.