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

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 expressed their stance, reiterating the crackdown on virtual currency trading within China and categorizing stablecoins as virtual currencies, which means that trading stablecoins will be impossible in mainland China.