Caixin: The second batch of Hong Kong compliant stablecoin licenses is now under application

According to Caixin, the second batch of Hong Kong compliant stablecoin licenses is currently under application. Reliable sources reveal that Futu Securities and OSL Group are both contenders for the second batch of licenses.

However, in November last year, the People's Bank of China and 13 other ministries reiterated their stance on cracking down on virtual currency trading in China and classified stablecoins as virtual currencies, which means that trading stablecoins will not be possible in mainland China.