Caixin: Hong Kong may narrow the scope of the first batch of stablecoin licenses to three or four

Hong Kong may reduce the scope of the first batch of stablecoin licenses to three or four. The Hong Kong Monetary Authority has realized in its communication with the People's Bank of China that under the framework of the regulatory memorandum, the main regulatory responsibilities and risks are concentrated in the Hong Kong Monetary Authority. A number of branches of Chinese banks in Hong Kong and branches of Chinese securities firms in Hong Kong are eager to participate in Hong Kong's stablecoin compliance business, including Bank of China Hong Kong, Bank of Communications Hong Kong, China Construction Bank (Asia), CITIC Bank International, Guotai Junan International, etc., involving stablecoin issuance, custody and other businesses.
In addition, an insider said in an interview with stablecoins that our country does not yet have a globally influential public chain. Another insider suggested that the national backbone public chain should be led by central state-owned enterprises, and the construction of industry-level public chains can be open to market competition.