Techub News reported, according to Ming Pao, that Hong Kong's "Stablecoin Ordinance" will take effect on August 1. Hong Kong Monetary Authority Chief Executive Eddie Yue Wai-man said today that Hong Kong has set relatively strict standards for stablecoin issuers, with a high barrier to entry, and it is expected that only a few licenses will be issued in the initial stage. He said at a forum that the HKMA's stablecoin sandbox program is designed to allow the industry to test application scenarios and share experiences, etc., but it does not necessarily guarantee a license, and participating institutions will still need to submit additional license applications in the future. https://t.co/Rd3kMTpnBG