Hong Kong Treasury Department: It is expected to issue some stablecoin licenses early next year, with a priority on anti-money laundering measures.

According to the Smart Financial APP, the People's Bank of China stated last month that stablecoins carry risks of being used for illegal activities, leading to market concerns about whether this will affect the direction of stablecoin implementation in Hong Kong. In response, the Financial Secretary of Hong Kong, Paul Chan Mo-po, stated on Friday (December 19) at an event that as of the end of September this year, they have received 36 stablecoin license applications from various industries. It is expected that some licenses will be issued early next year, with a focus on prudent reserve management, price stability, and anti-money laundering measures. He believes that these measures not only protect investors but also reduce potential transaction conflicts by establishing clear compliance pathways, helping to resolve potential disputes.