Hong Kong plans to approve its first licence for issuing stablecoins in March.
China has maintained a hardline stance on cryptocurrencies, but Hong Kong is pushing regulatory easing while stressing its autonomy as a financial hub.
CNBC reported on Feb. 11 that Hong Kong Monetary Authority (HKMA) Chief Executive Eddie Yue (余偉文) told a recent Legislative Council meeting, "We plan to issue the first licence by March."
The HKMA has received 36 applications from stablecoin issuers so far, the report said.
Hong Kong plans to develop cross-border payments using stablecoins and a tokenised deposit system.
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Chi-gyu Hwang
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