Stablecoins Ordinance to take effect in August

It will oversee stablecoin operations and ensure proper supervision.

The government has set August 1, 2025, as the start date for the Stablecoins Ordinance, which will regulate stablecoin activities through a new licensing regime.

The ordinance aims to oversee stablecoin operations and ensure proper supervision.

Financial Services and the Treasury Secretary Christopher Hui said the licensing regime will provide necessary safeguards and support the sustainable growth of Hong Kong’s stablecoin and digital asset sector.

He also issued a notice allowing certain stablecoins issued by unlicensed persons to be offered only to professional investors.

The Hong Kong Monetary Authority has begun consulting on regulatory details, including anti-money laundering and counter-terrorism measures.

Both notices will undergo negative vetting by the Legislative Council on Wednesday.