Chief Executive of the Hong Kong Monetary Authority: If stablecoins that reference a single or multiple legal currencies are issued in Hong Kong, they must apply for a license from the Hong Kong Monetary Authority

According to Foresight News , Yu Weiwen, President of the Hong Kong Monetary Authority, wrote an article "Talk about Stablecoins: Supervising Issuers to Protect Holders" in "Foresight". Yu Weiwen said that according to the proposed regulatory system for stablecoin issuers, issuers who want to issue in Hong Kong must refer to For stablecoins of a single or multiple legal currencies ("fiat currency stablecoins"), you must apply for a relevant license from the Hong Kong Monetary Authority. The issuer will need to have a physical presence and management in Hong Kong, and meet certain capital requirements.