Svmuu News: Hong Kong Monetary Authority (HKMA) Chief Executive Eddie Yue stated that the first batch of stablecoin issuer licenses have been granted today. According to the business plans of the licensees, they are expected to commence operations within the coming months upon completion of relevant preparatory work.
Yue mentioned that he looks forward to the issuers launching their businesses as planned, actively exploring development opportunities while managing risks effectively, promoting the application of compliant stablecoins, and addressing pain points in financial and economic activities. Meanwhile, the public should remain vigilant against any fraudulent activities or scams claiming to be associated with licensed entities or their issued stablecoins. When purchasing or using stablecoins, regulated channels should be utilized. If in doubt, individuals should consult the HKMA's register to verify the identity of licensees or contact the licensees directly for further inquiries.