[Blockchain News] The Hong Kong Monetary Authority announced the first batch of stablecoin "sandbox" participants, with a total of 3 groups of institutions selected, and the test application scenarios cover payment, supply chain management and capital markets. 💡 Deputy Director Chen Haolian said that the new system will be in line with international standards and will have a 6-month transition period. Issuers with substantive business must apply for a license within the first 3 months, otherwise they must end their business before the end of the 4th month. Legislative Council member Wu Jiezhuang expects the government to release the Web3 development roadmap as soon as possible to enhance the confidence of overseas investors. What do you think? Welcome to discuss in the comment section!