According to Deep Tide TechFlow news on June 8, as reported by the Daily Economic News, Hong Kong's stablecoin regulations only allow designated licensed institutions to sell fiat stablecoins in Hong Kong, and only fiat stablecoins issued by licensed issuers can be sold to retail investors. In addition to the above scenario, there is another scenario of "active promotion," which means that even if one is not directly engaged in regulated stablecoin activities, if they actively promote to the public in Hong Kong or other regions that they are conducting or seemingly conducting such activities, they still need to apply for a license.