HK KYC Rules Fit Block JD.com and Ant from Stablecoin Licenses

For August 1, Hong Kong new Stablecoin Regulation come enter force, dem don establish formal license system. This regulation say make everybody wey get stablecoin do strict KYC check. Because of this, non-financial companies like JD.com and Ant Group dey face gbege to meet compliance requirements. Dem fit miss out for the first lot of stablecoin licenses wey go limited and dem go give am around early 2026. Financial institutions and issuing banks like Bank of China Hong Kong and Standard Chartered get better chance because dem fit satisfy regulatory and anti-money laundering rules well. Market expectations cool down as stablecoin stocks drop, and Hong Kong plus mainland shares fall sharply on August 1. Analysts talk say only small number of stablecoin licenses go first come out. The strong KYC system and small number of licenses make crypto traders dem market dey bearish. But this move show say Hong Kong dey careful for digital asset regulation. For long run, stablecoin licenses fit help grow safe cross-border payment service and make regulated banks important for digital asset sector.