Hong Kong is set to introduce stablecoin auditing guidelines within the next one to three years, according to Sun Deji, Chairman of the Hong Kong Institute of Accountants and Financial Reporting. This timeline reflects a cautious approach to avoid stifling the nascent stablecoin industry with premature regulation. The demand for stablecoin issuer licenses in Hong Kong is notably high, especially among Chinese firms. However, the Hong Kong Monetary Authority is issuing these licenses selectively to manage trading risks and prevent fraud. The recent implementation of the Stablecoin Ordinance on August 1 has spurred significant interest from major Chinese corporations seeking licenses.