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“I don’t think [the delay] is caused by the market,” said Jack Poon, a member of the task force on promoting Hong Kong Web3 development and a professor of fintech at the Hong Kong Polytechnic University. “Likely, it is more administrative to ensure all the items are checked or perhaps, the narrative of how the new issuer will position itself for the future.”
A spokesperson for the Hong Kong Monetary Authority (HKMA) said on Tuesday that it was actively taking forward the licensing matter and would announce further details in due course.
The market has been eagerly awaiting who would win the licences and how the stablecoins would be put to use, after two senior officials said at Consensus Hong Kong, the city’s flagship digital asset conference on February 11, that the government was targeting issuing licences in March.
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What’s the hype about stablecoins?
What’s the hype about stablecoins?
