US EditionHong Kong's Stablecoin Rules Kick In as It Looks to Establish Its Crypto Credentials
HONG KONG, JUL 31 – Hong Kong requires fiat-backed stablecoin issuers to meet strict capital, custody, and transparency rules to ensure full backing and investor protection under the new regime.
- On August 1, 2025, Hong Kong’s Stablecoin Ordinance took effect, requiring fiat-backed stablecoin issuers to obtain licences, with no licences issued to date, according to HKMA.
- Amid growing crypto hype, regulators aim to balance innovation and control, with the HKMA saying the Stablecoin Ordinance explores offshore RMB stablecoin possibilities and promotes responsible crypto growth.
- The HKMA released detailed licensing guidelines, covering capital, custody, KYC, reserves, governance, and requiring full fiat backing in regulated banks, with anti-money laundering controls.
- By September 30, 2025, top banks like Bank of China and Standard Chartered are expected to apply, as HKMA plans to issue only a few licences initially.
- Looking ahead, applicants can engage in early discussions with the Hong Kong Monetary Authority until August 31, 2025, as the first batch of licences is expected early next year.
18 Articles
18 Articles
Hong Kong's Stablecoin Rules Kick In as It Looks to Establish Its Crypto Credentials
Hong Kong's rules for stablecoin issuers took effect on Friday as the government pursues its ambitions for the crypto sector.The special administrative region of China has taken steps in recent years to strengthen its position in the industry en route to realising its goal of becoming a hub for crypto and Web3 in Southeast Asia. It established a regulatory framework for crypto exchanges more than two years ago, and started consulting on stableco…
Hong Kong Releases ‘Stablecoins Ordinance’ Establishing A Licensing Regime for Fiat-Referenced Stablecoin
The Stablecoins Ordinance, effective August 1, 2025, establishes a licensing regime for fiat-referenced stablecoin (FRS) issuers in Hong Kong, overseen by the Hong Kong Monetary Authority (HKMA). The ordinance regulates “specified stablecoins,” primarily fiat-referenced stablecoins (FRS) pegged to one or more official currencies, such as the Hong Kong dollar (HKD), or other assets designated by […] The post Hong Kong Releases ‘Stablecoins Ordina…
Hong Kong Launches Tough Stablecoin Rules as $1.5B Pours into Crypto Startups - Coin Surges
The post Hong Kong Launches Tough Stablecoin Rules as $1.5B Pours into Crypto Startups appeared first on Coinpedia Fintech News Hong Kong is making a powerful move to lead the digital finance future. The city is setting the stage to become Asia’s top crypto hub. As of August 1, Hong Kong’s new Stablecoin Ordinance is officially in force. The HKMA (Hong Kong Monetary Authority) has issued detailed licensing guidelines covering capital, custody, K…
Hong Kong Launches Stablecoin Licensing Amid Market Skepticism
HKMA’s new licensing sets a steep HK$25M bar, curbing smaller stablecoin players. Hong Kong stablecoin stocks fall as investors fear overregulation and high costs. China firms eye Hong Kong to build cross-border stablecoin payment solutions. Hong Kong’s new stablecoin regime has officially launched, introducing a licensing framework aimed at tightening digital asset oversight. The Hong Kong Monetary Authority (HKMA) confirmed that the stablecoin…
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