Hong Kong's Stablecoin Crackdown: Why Only a Handful of Issuers Will Survive the Regulatory Gauntlet

Hong Kong's Stablecoin Crackdown: Why Only a Handful of Issuers Will Survive the Regulatory Gauntlet

As a seasoned crypto analyst, I dissect HKMA chief Eddie Yue's recent remarks on stablecoin licensing. With 'everyone wanting to be an issuer' but regulators wielding strict criteria, this piece breaks down why we're likely to see single-digit approvals - and what this means for the future of dollar-pegged tokens in Asia's financial hub. Spoiler: your meme coin fantasies need not apply.