"Periscope": Some institutions seeking to apply for licenses ultimately aim for a stablecoin pegged to the offshore Chinese yuan.

["Perspective": Some institutions wishing to apply for licenses still aim for offshore RMB-linked stablecoins] On the afternoon of July 29, the Hong Kong Monetary Authority publicly announced the "Regulatory Guidelines for Licensed Stablecoin Issuers" and the "Guidelines for Combating Money Laundering and Terrorist Financing (Applicable to Licensed Stablecoin Issuers)" to enhance the regulation of stablecoin license applications. HKMA Vice President Chen Weimin repeatedly emphasized at a communication meeting after the guidelines were released that the current market enthusiasm for stablecoins is high, and market participants should be cautious, as being "stable" is beneficial for industry development. Most institutions pouring into Hong Kong to explore stablecoin opportunities are focused on the future opportunity of Hong Kong stablecoins being linked to offshore RMB, including certain state-owned energy giants and companies like CITIC Group involved in significant cross-border trade. Although Chen Weimin revealed that most institutions currently in negotiations prefer to choose coins with better liquidity, such as the Hong Kong dollar or the US dollar, Tencent News "Perspective" learned that some institutions wishing to apply for licenses still aim for offshore RMB-linked stablecoins.