The Hong Kong Monetary Authority: The approval threshold for stablecoin licenses is high, and only a few are approved in the initial stage The Chief Executive of the Hong Kong Monetary Authority, Yu Weiwen, stated that the approval of stablecoin issuer licenses will adopt a strict and cautious attitude, with a high threshold, and only a few licenses will be granted in the initial stage. At present, preliminary communication has been made with multiple institutions, but these communications do not represent any approval or recognition.