# Hong Kong just raised the bar for Stablecoin issuers!
Hello everyone this is Eric it's me again and right now I'm at the at the University campus thinking about the stablecoin and real world asset which I have been talking about for the past three weeks and over the period we have released the whole report regarding the use case of real world asset with stablecoin with the AMAs that we have and some wonderful questions that were submitted and answered already. There is a note that I would like to share with everyone here that since the effect of stablecoin in Hong Kong starting from 1st of August, it turns to be more stricter than everyone think it will be and I think it makes sense as well because the Hong Kong has to keep its current financial reputations around the world and they have to make sure that all AML and KYC are in place and there is news that even those tech giants from China for example the ANZ and JD that I mentioned earlier they are not able to secure one stablecoin issuer license, so you could imagine how strict it is, and the preference would be given to those banking systems in Hong Kong. And I will keep sharing with you on the latest status of stablecoin in Hong Kong from time to time. - Eric Choy CMTO
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