Ant and JD are both semi-state-owned enterprises, they don't really engage in cryptocurrency, they just have money to join the fun. If stablecoin licenses are given to them, it would just be additional business licenses for harvesting profits.

Hello everyone, I'm Aires! Today, an explosive news has emerged—JD and Ant Group might not obtain the first batch of stablecoin licenses in Hong Kong! As soon as the news broke, the industry was in an uproar, because these two are giants! What exactly is going on? What impact will it have on the market? Don't worry, let's clarify everything step by step!

Why might JD and Ant Group be 'eliminated'?
Hong Kong's stablecoin regulation aims to make the market more standardized, but the threshold is not low. Sources reveal that the first batch of licenses may prefer companies with a purely financial or blockchain background. While JD and Ant Group are strong, their businesses are too diversified and may still be undergoing compliance adjustments. In simple terms, it's not that they won't be approved, but they may need more time to prepare!