Lawyer Yu Peiheng: The number of the first batch of Hong Kong stablecoin licenses will be very small, and the global regulatory framework urgently needs to be streamlined.

[Lawyer Yu Peiheng: The number of initial stablecoin licenses issued in Hong Kong will be very small, and the global regulatory framework urgently needs to be connected] Lawyer Yu Peiheng, a member of the Guangdong-Hong Kong-Macao Greater Bay Area Legal Advisory Group under the Hong Kong Department of Justice, revealed at the "Phoenix Bay Area Finance Forum 2025" that the regulatory framework for stablecoins by the Hong Kong Monetary Authority has attracted consultations from no less than 77 institutions. However, there are many rumors in the market, and the number of initial stablecoin licenses issued will be very small. The final outcome is expected to become clearer around October or November. He emphasized that the greater challenge lies in the coordination of global regulatory standards. Hong Kong, the United States, and Europe each have their own set of regulatory rules, but stablecoins are destined to be cross-regional. A globally accepted regulatory framework must be established to achieve the true and secure cross-chain circulation of stablecoins. (Phoenix Network)