Hong Kong to Implement Stablecoin Ordinance on August 1, 2025
The post Hong Kong to Implement Stablecoin Ordinance on August 1, 2025 appeared on BitcoinEthereumNews.com. Key Points: Implementation of Hong Kong’s Stablecoin Ordinance, affecting market dynamics and involving key players. Licenses limited to 3-4 in initial phase. Focus on HKD and USD-pegged stablecoins for regulatory clarity. Hong Kong authorities, led by the Hong Kong Monetary Authority and the Financial Services and the Treasury Bureau, confirmed the commencement of the Stablecoin Ordinance on August 1, 2025, introducing a structured licensing regime within the region. Industry experts view the ordinance as a significant regulatory framework, guiding stablecoin activities and potentially reshaping the digital asset ecosystem in Hong Kong, reminiscent of recent global regulatory movements. Hong Kong Restricts Stablecoin Licenses to 3-4 Issuers The Stablecoin Ordinance aims to establish licensing requirements for stablecoin issuers in Hong Kong, affecting both payment institutions and major technology companies. Experts predict 50 to 60 applicants with expectations that only 3 to 4 licenses will be granted initially. Christopher Hui, Hong Kong’s Secretary for Financial Services and the Treasury, emphasized the ordinance’s role in providing robust regulatory guardrails for the stablecoin market. Effective August 1, 2025, only stablecoins linked to the Hong Kong dollar and the US dollar from licensed issuers can be traded on Hong Kong exchanges. This change will stop unlicensed stablecoins from trading on these platforms. “After the Ordinance commences operation, the licensing regime will provide suitable guardrails for relevant stablecoin activities. It will be a milestone in facilitating the sustainable development of the stablecoin and digital asset ecosystem in Hong Kong.” – Christopher Hui, source Market reactions have been muted, with limited public commentary from industry leaders. Regulatory clarity from Hong Kong is seen as pivotal for institutional engagement, though broader community reactions remain cautious as stakeholders assess the potential impacts. New Licensing Aligns with Global Regulatory Trends Did you know? Hong Kong’s approach echoes the EU’s MiCA framework,…
The post Hong Kong to Implement Stablecoin Ordinance on August 1, 2025 appeared on BitcoinEthereumNews.com.
Key Points: Implementation of Hong Kong’s Stablecoin Ordinance, affecting market dynamics and involving key players. Licenses limited to 3-4 in initial phase. Focus on HKD and USD-pegged stablecoins for regulatory clarity. Hong Kong authorities, led by the Hong Kong Monetary Authority and the Financial Services and the Treasury Bureau, confirmed the commencement of the Stablecoin Ordinance on August 1, 2025, introducing a structured licensing regime within the region. Industry experts view the ordinance as a significant regulatory framework, guiding stablecoin activities and potentially reshaping the digital asset ecosystem in Hong Kong, reminiscent of recent global regulatory movements. Hong Kong Restricts Stablecoin Licenses to 3-4 Issuers The Stablecoin Ordinance aims to establish licensing requirements for stablecoin issuers in Hong Kong, affecting both payment institutions and major technology companies. Experts predict 50 to 60 applicants with expectations that only 3 to 4 licenses will be granted initially. Christopher Hui, Hong Kong’s Secretary for Financial Services and the Treasury, emphasized the ordinance’s role in providing robust regulatory guardrails for the stablecoin market. Effective August 1, 2025, only stablecoins linked to the Hong Kong dollar and the US dollar from licensed issuers can be traded on Hong Kong exchanges. This change will stop unlicensed stablecoins from trading on these platforms. “After the Ordinance commences operation, the licensing regime will provide suitable guardrails for relevant stablecoin activities. It will be a milestone in facilitating the sustainable development of the stablecoin and digital asset ecosystem in Hong Kong.” – Christopher Hui, source Market reactions have been muted, with limited public commentary from industry leaders. Regulatory clarity from Hong Kong is seen as pivotal for institutional engagement, though broader community reactions remain cautious as stakeholders assess the potential impacts. New Licensing Aligns with Global Regulatory Trends Did you know? Hong Kong’s approach echoes the EU’s MiCA framework,…
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