Hong Kong Monetary Authority: The Stablecoin Ordinance comes into effect this Friday with a six-month transition period
2025-07-29 15:59:57
The HKMA announced that the Stablecoin Ordinance will come into effect this Friday with a six-month transition period. The HKMA said that it will implement classified treatment for existing stablecoin issuers: those who meet the regulatory requirements will be granted a temporary license; those who fail to meet the standards within 3 months will be required to close their business within 4 months; those who do not meet the licensing standards will be required to terminate their operations within 1 month after receiving the notice. Regulatory requirements include full reserves, processing redemptions within one day, establishing entities in Hong Kong and maintaining adequate financial...
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