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--Bullish
币盈Anna
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Must-Read | Two Weeks Post-License Issuance in Hong Kong, ChainCatcher Publishes a Lengthy Article Laying Out the Six Hurdles for Stablecoins
On April 10th, the Hong Kong Monetary Authority granted its first licenses to stablecoin issuers. Out of 36 applications, only 2 were approved—HSBC and Anchor Finance (a joint venture with Standard Chartered). The rejection rate is a staggering 94% 😶. This outcome alone has left native crypto firms and Web3 professionals feeling mixed emotions—after waiting four years, not a single license in hand.
But what really has the industry on pause is the lengthy article released by ChainCatcher on April 26th—(The Next Steps for Hong Kong Stablecoins: Six Structural Hurdles Based on Regulatory Logic and Market Structure). The author goes beyond the hype and systematically examines the entire process of the Hong Kong stablecoin regulatory framework from conception to implementation, concluding that: the issuance of licenses is just the starting line; there are six structural hurdles ahead.
But what really has the industry on pause is the lengthy article released by ChainCatcher on April 26th—(The Next Steps for Hong Kong Stablecoins: Six Structural Hurdles Based on Regulatory Logic and Market Structure). The author goes beyond the hype and systematically examines the entire process of the Hong Kong stablecoin regulatory framework from conception to implementation, concluding that: the issuance of licenses is just the starting line; there are six structural hurdles ahead.