香港Stablecoin許可證：謹慎的黎明

香港的新Stablecoin法規即將啟動，但許可證可能要到2026年才能到達。 HKMA正在採用測量的數字化轉型方法。

Hong Kong Stablecoin Licences: A Cautious Dawn

香港Stablecoin許可證：謹慎的黎明

Hong Kong is stepping into the stablecoin arena with its new regulatory regime. Licences are on the horizon, but the path is paved with caution. The HKMA is keen on a sustainable, healthy development of the industry.

香港以其新的監管制度進入Stablecoin舞台。許可證即將到來，但謹慎地舖路了。 HKMA熱衷於行業的可持續健康發展。

The Starting Line: August 1st and Beyond

起跑線：8月1日及以後

Hong Kong's Stablecoins Ordinance goes live on August 1st. Any entity issuing fiat-referenced stablecoins (FRSs) needs a licence from the HKMA. But hold your horses – no licences have been issued yet.

香港的Stablecoins條例將於8月1日上線。任何發行菲亞特參考的實體都需要HKMA的許可證。但是握住馬匹 - 尚未簽發許可證。

A Cautious Approach

謹慎的方法

The HKMA is playing it cool, emphasizing a gradual approach to digital transformation. Darryl Chan, deputy chief executive, mentioned that large-scale adoption isn't expected immediately. The focus is on healthy growth, not explosive expansion.

HKMA正在播放它很酷，強調了一種逐步的數字化轉型方法。副首席執行官達里爾·陳（Darryl Chan）提到，預計不會立即採用大規模採用。重點是健康增長，而不是爆炸性的擴張。

Licensing: A Slow and Steady Race

許可：緩慢而穩定的比賽

Don't expect a flood of licences right away. The first batch might not arrive until early 2026, and only a handful of FRS issuers will make the cut initially. The regulatory bar is high, with requirements like fully liquid reserves, a physical presence in Hong Kong, and quick customer redemption processing.

不要指望馬上有大量許可。第一批可能要到2026年初才能到達，只有少數FRS發行人最初才會削減。監管欄很高，需要完全液體儲備，在香港的物理存在以及快速的客戶贖回處理。

What the HKMA Expects

HKMA期望的

The HKMA has issued detailed guidelines for stablecoin issuers, encouraging interested firms to reach out for guidance. They're also keeping a close eye on public communications, cautioning against unrealistic expectations and reminding market participants to exercise caution in their statements.

HKMA已為Stablecoin發行人發布了詳細的指南，鼓勵有興趣的公司取得指導。他們還密切關注公共溝通，警告不切實際的期望，並提醒市場參與者在聲明中謹慎行事。

A Grace Period and Strict AML

寬限期和嚴格的AML

Issuers already operating in Hong Kong get a six-month grace period to apply for a licence. However, those unable to meet the requirements by the end of November must wind down their operations. The AML guidelines also stand out. FRS issuers might need to verify the identity of all stablecoin holders, a stricter approach compared to most other places.

已經在香港運營的發行人獲得了六個月的寬限期，以申請許可。但是，那些無法在11月底之前滿足要求的人必須避開其業務。 AML指南也脫穎而出。 FRS發行人可能需要驗證所有Stablecoin持有人的身份，與大多數其他地方相比，更嚴格的方法。

CNH-Pegged Stablecoin: A Potential Game Changer

CNH-PEGGGED Stablecoin：潛在的遊戲規則改變者

While Hong Kong focuses on fiat-backed stablecoins, the rise of CNH-pegged stablecoins is worth noting. Conflux Network, AnchorX, and Eastcompeace are rolling out a stablecoin linked to the offshore yuan (CNH) to streamline payments in Belt and Road Initiative (BRI) countries. This could boost financial inclusion by providing digital financial services to unbanked regions.

儘管香港專注於菲亞特支持的穩定蛋白，但值得注意的是CNH-Peggged Stablecoins的崛起。 Conflux Network，Anchorx和EastCompeace正在推出與海上人民幣（CNH）相關的Stablecoin，以簡化Belt and Road Initiative（BRI）國家 /地區的付款。這可以通過向無銀行地區提供數字金融服務來提高金融包容性。

Final Thoughts

最後的想法

Hong Kong is taking baby steps into the stablecoin world. While the HKMA's cautious approach might seem slow, it prioritizes stability and sustainability. It's like they're saying, "Let's not rush; let's get this right." With potential innovations like the CNH-pegged stablecoin on the horizon, the future of digital finance in Hong Kong – and beyond – is definitely something to watch. So, buckle up and enjoy the ride!

香港正在邁出小步進入Stablecoin世界。儘管HKMA的謹慎方法似乎很慢，但優先考慮穩定性和可持續性。就像他們說的是：“不要急於;讓我們做對了。”隨著CNH-Peggged Stablecoin的潛在創新，香港及以後的數字融資未來絕對是值得關注的東西。因此，搭扣並享受旅程！