香港金管局总裁余伟文：香港稳定币发牌门槛高，预计初阶段仅发数个牌照

Core Viewpoint - Hong Kong's "Stablecoin Regulation" will officially take effect on August 1, introducing a licensing system for stablecoin issuers pegged to fiat currencies, with high entry barriers expected to limit initial licenses to only a few issuers [1] Group 1: Regulatory Framework - The Hong Kong Monetary Authority (HKMA) aims to provide a balanced perspective on stablecoins, emphasizing that they are not investment or speculative tools but rather payment instruments utilizing blockchain technology [1] - The licensing process for stablecoin issuers is designed with high thresholds due to the associated risks and the need for user protection, with expectations that only a few licenses will be granted in the initial phase [1] - The HKMA launched a "stablecoin issuer sandbox" last year to understand the business models of institutions planning to issue fiat-backed stablecoins in Hong Kong, with several companies expressing interest in participating [1] Group 2: Market Dynamics - Various new payment tools are emerging alongside stablecoins, including Central Bank Digital Currencies (CBDCs), tokenized deposits from international banks, and cross-border fast payment systems, each with unique characteristics and varying levels of maturity [1] - The future development of these payment tools will largely depend on market forces, indicating a dynamic and evolving landscape for digital payment solutions [1]