US EditionHong Kong Joins Global Race With New Stablecoin Licensing Bill
- On 21 May 2025, Hong Kong enacted the Stablecoin Bill, introducing a framework that requires fiat-backed stablecoin issuers to obtain licenses overseen by the Hong Kong Monetary Authority.
- The bill follows Hong Kong's 2023 efforts to create virtual asset regulations and aligns with global moves like the EU's MiCa and the U.S. GENIUS Act toward stablecoin oversight.
- The legislation requires issuers to meet standards on reserve asset management, redemption at par, client asset segregation, and anti-money laundering compliance under a risk-based regulatory approach.
- HKMA CEO Eddie Yue stated the ordinance aims to enable a "robust and fit-for-purpose regulatory environment" to support sustainable development of Hong Kong's stablecoin ecosystem.
- The bill, set to take effect later this year with a transitional phase, aims to strengthen investor safeguards and reinforce Hong Kong’s role as a prominent hub for regulated digital financial activities.
28 Articles
28 Articles
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Hong Kong enacts stablecoin legislation as Bitcoin surges past US$111,000
New law establishes licensing regime for fiat-referenced stablecoins Hong Kong has passed a landmark bill establishing a licensing regime for fiat-referenced stablecoin issuers, marking a significant expansion of its virtual asset regulatory framework. The move positions the territory as a key hub in the global race to legitimise digital assets amid surging institutional demand and rising Bitcoin prices. The Stablecoins Bill, passed on 21 May …
Hong Kong Approves Stablecoin Law
The Legislative Council of Hong Kong passed a legal framework regulating stablecoins, establishing a licensing regime for issuers of stable assets. Under Hong Kong’s new stablecoin law, all issuers of... Сообщение Hong Kong Authorities Approve Stablecoin Legislation появились сначала на CoinsPaid Media.
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