Warren: The Federal Reserve Chair should refuse cryptocurrency bailouts

Hong Kong stablecoin license issuance delayed, hitting obstacles for HKD stablecoin regulation rollout?

Hong Kong’s Hong Kong dollar stablecoin licensing program has been delayed, and it has still not been approved to date. The market expects it may be pushed back to April. Regulators are focused on the applicants’ use cases and compliance, and the high bar is intended to reduce risk. HSBC, Standard Chartered, and others are potential licensees. Stablecoins will connect traditional finance with blockchain assets, and this will be tied to competition in regional digital finance.

Hong Kong’s first batch of stablecoin issuer licenses were not issued as scheduled in March. The Hong Kong Monetary Authority: fully committed to advancing efforts and will disclose information in a timely manner.

Hong Kong’s first batch of stablecoin issuer licenses was originally expected to be issued in March 2026, but as of the end of March, none has been issued yet, drawing market attention. The Hong Kong Monetary Authority emphasized that it will announce progress in due course. The frontrunners with stronger support currently include Standard Chartered and HSBC, while it appears that mainland Chinese institutions have not been able to make the shortlist. Delays in granting licenses could affect Hong Kong’s position as a pioneer in the global stablecoin regulatory space.

Federal Reserve Board Governor Barr: Stablecoins carry money-laundering risk, the GENIUS Act framework is taking shape soon

The Federal Reserve Board member Michael Barr warned that stablecoin reserve assets face money laundering and financial stability risks, emphasizing that reserve quality is crucial. Stablecoins have advantages in areas such as real-time cross-border payments, but they could pose dangers due to insufficient regulation. Pushing the “Lummis Act” will require issuers to formally register and hold equivalent reserves to strengthen market stability. The implementation of regulatory details will directly affect the development of the U.S. stablecoin market.

Hong Kong will pass legislation for a crypto-asset reporting framework, with the goal of completing it by 2026

Hong Kong’s Financial Secretary and the Treasury Bureau Deputy Director, Chan Ho-lim, revealed that the OECD revised the Common Reporting Standard, incorporating new types of digital financial products such as central bank digital currency, and issued a framework for reporting crypto assets, aiming to enhance transaction transparency. The Hong Kong Legislative Council supports this bill, with the goal of enacting the legislation by 2026.

Hong Kong’s first batch of stablecoin licenses has been delayed, and the Monetary Authority says it is working to move forward as quickly as possible

Hong Kong’s first batch of stablecoin issuer licenses was originally set to be issued in March 2026, but it did not roll out as scheduled. The Hong Kong Monetary Authority said it is moving forward with the licensing process, and the market is watching the application status of HSBC and Standard Chartered. Among the applications for the second batch of licenses, Futu Securities and OSL Group are strong contenders.

Texas Lt. Gov. lists crypto, prediction markets in charges for lawmakers

Texas Lieutenant Governor Dan Patrick has prioritized studying prediction markets and cryptocurrency regulations for the upcoming legislative session, aiming to address gambling loopholes and evaluate the state's crypto policies and AI's workforce impact.