Source: Hong Kong's stablecoin issuer license will be similar to the invitation system

Planet Daily News: According to sources, the Hong Kong Stablecoin Regulation will take effect on August 1, 2025, and simultaneously launch stablecoin license applications. This time, the license for stablecoin issuers will not be processed through self-downloaded forms or unified written submissions, but will be arranged through an invitation-based application system. "In practical terms, the Hong Kong Monetary Authority responsible for regulatory licensing will pre-communicate with potential stablecoin license applicants to understand whether they meet basic application qualifications. Only after obtaining basic approval during pre-communication will the Monetary Authority issue an application form." (Caixin)