Sources: Hong Kong stablecoin license review will be conducted through an invitation based application system

According to Foresight News, sources revealed that the license for stablecoin issuers will not be obtained through applicants downloading forms or submitting written applications, but will be arranged through a system similar to invitation based applications. At the practical level, the Hong Kong Monetary Authority, which is responsible for regulating and issuing licenses, will communicate with interested stablecoin license applicants in advance to understand whether they meet the basic application qualifications. Only after obtaining basic recognition in the pre communication will the Hong Kong Monetary Authority issue the application form