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HKMA Set to Issue Stablecoin Licenses Amid Beijing's Skepticism

2/11/2026

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Summary

Story summary

The Hong Kong Monetary Authority (HKMA) plans to issue stablecoin licenses in March, despite Beijing's opposition to cryptocurrency.
Chief Executive Eddie Yue says the HKMA is reviewing 36 applications for stablecoin licenses.
Stablecoins are pegged to assets to reduce volatility and support cross-border payments and tokenized deposits.
Beijing banned crypto transactions in 2021 and remains skeptical of cryptocurrency.

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Story summary

The Hong Kong Monetary Authority (HKMA) plans to issue stablecoin licenses in March, despite Beijing's opposition to cryptocurrency.
Chief Executive Eddie Yue says the HKMA is reviewing 36 applications for stablecoin licenses.
Stablecoins are pegged to assets to reduce volatility and support cross-border payments and tokenized deposits.
Beijing banned crypto transactions in 2021 and remains skeptical of cryptocurrency.