PANews reported on July 18 that according to an announcement from the Hong Kong Monetary Authority (HKMA), it needs to be emphasized that entering the "sandbox" is not a prerequisite for applying for a stablecoin issuer license in the future. Even if participating institutions that have entered the "sandbox" intend to obtain a license in the future, they must submit a formal application after the regulatory system is implemented.

As reported earlier today, the Hong Kong Monetary Authority today announced the list of participants in the “sandbox” for stablecoin issuers.