TechFlame news, July 19. According to a Caixin report, sources revealed that the current stablecoin issuer license will not be carried out by applicants downloading their own forms and uniformly submitting written applications, but will be arranged using a similar invitation system. “On a practical level, the Hong Kong Monetary Authority, which is responsible for supervising licensing, will communicate with interested stablecoin license applicants in advance to understand whether the other party has met the basic application qualifications. Only when basic approval is obtained in advance will the HKMA issue

an application form.”