According to a report by Daily Economic News, Chen Weimin, Vice President of the Hong Kong Monetary Authority, stated that the first stablecoin issuer license is expected to be issued in early 2026. The application threshold is "very high," and entering the "sandbox testing" does not guarantee approval; not entering does not mean there is no qualification to apply. The Monetary Authority emphasized that licensing will be a continuous process, and the completeness of the application materials and the feasibility of the plan will be key to the approval. The Monetary Authority also stated that it will maintain an open attitude towards pegged currencies, but if it is proposed to peg the Renminbi, it will make a specific assessment based on its degree of free convertibility and application scenarios.