Hong Kong Monetary Authority Vice President: Entering the "sandbox" is not a prerequisite for applying for a stablecoin issuer license

ChainCatcher news, Hong Kong Monetary Authority Vice President Chen Weimin pointed out in an article for "Hui Si" that the main application scenarios proposed by the first batch of institutions participating in the "sandbox" include payment, supply chain management, and capital market use cases. The participating institutions in the "sandbox" also proposed other use cases, including Web3, gaming, and virtual asset trading. Entering the "sandbox" is not a prerequisite for future license applications; if the participating institutions in the "sandbox" intend to obtain a license, they must submit a formal application separately after the regulatory framework is implemented.