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China SanSan Media seeks stablecoin license in Hong Kong
China SanSan Media, code 08087.HK, has announced its intention to apply for a stablecoin license in Hong Kong before the licensing regime begins on August 1, 2025. The company plans to use cash reserve funds and capital from stock issuance to implement this plan.
According to upcoming management requirements, the issuance of currency-backed stablecoins will be restricted until a license is granted, in order to simplify digital assets within the regulatory framework. While obtaining this license is important, the market response remains unclear due to a lack of data or statements from industry leaders. The Stablecoin law will only allow issuance from licensed issuers for the retail market in Hong Kong.