Internet reports that China Hong Kong's "Stable Coin Ordinance" came into effect in August. Hong Kong Treasury Secretary Chris Hui said that the HKMA is currently consulting the market on the implementation of the Ordinance's guidelines. The guidelines will be announced within this month. The specific content will involve anti-money laundering and other related requirements. He also stated that the number of stable coin licenses granted will be in single digits. He hopes to receive applications after the Ordinance takes effect, and targets licenses to be issued within this year. As for whether financial institutions can issue stablecoins pegged to the RMB after obtaining licenses, he said that if currencies from other jurisdictions are involved, discussions will have to be held with relevant institutions. (Ming Pao)