The second batch of Hong Kong compliant stablecoin licenses is already under application

The second batch of Hong Kong compliant stablecoin licenses is already under application. Reliable sources revealed that Futu Securities and OSL Group are contenders for the second batch of licenses. However, in November last year, 13 ministries and commissions including the People's Bank of China stated their position, reiterating the crackdown on virtual currency transactions in China and characterizing stablecoins as virtual currencies, which means that it will be impossible for mainland China to trade stablecoins.