Internet reports that Hong Kong may narrow the scope of the first batch of stablecoin licenses to three to four. During its communication with the People's Bank of China, the Hong Kong Monetary Authority realized that under the framework of the regulatory memorandum, the main regulatory responsibilities and risks of both parties are concentrated in the Hong Kong Monetary Authority. A number of branches of Chinese banks in Hong Kong and branches of Chinese securities firms in Hong Kong are eager to participate in Hong Kong's compliant stablecoin business, including BOC Hong Kong, Bank of Communications Hong Kong, China Construction Bank (Asia), Credit Bank International, Guotai Junan International, etc., involving stablecoin issuance, custody and other businesses. In addition, an insider said in an interview with stablecoins that my country currently does not have an influential public chain in the world. Another insider suggested that the construction of national-level backbone public chains should be led by central state-owned enterprises, and the construction of industry-level public chains could open up market competition.