The Hong Kong Stablecoin Bill came into effect on August 1, establishing a licensing system for fiat currency stablecoin issuers in Hong Kong and improving the regulatory framework for virtual asset activities in Hong Kong to maintain financial stability while promoting financial innovation.
After the implementation of the Stablecoin Ordinance, any person who issues a fiat currency stablecoin in Hong Kong in the course of business, or a fiat currency stablecoin that claims to be anchored to the value of the Hong Kong dollar, in or outside Hong Kong, must apply for a license from the Monetary Authority. Relevant persons must comply with the requirements for the management and redemption of reserve assets, including proper segregation of client assets, maintenance of a sound stability mechanism, and processing of redemption requests from stablecoin holders on a denomination basis under reasonable conditions.
Relevant parties are also required to meet a series of anti-money laundering and terrorist financing, risk management, disclosure requirements, and audit and fit and proper person requirements. The Monetary Authority will further consult on the detailed regulatory requirements of the system in due course. (CCTV News)
Hong Kong's Stablecoin Bill comes into force
2025-08-01 05:03:35
Disclaimer:
1. The information provided does not constitute investment advice. Investors should make independent decisions and bear all risks themselves.
2. The copyright of this content belongs to the original author. The views expressed herein are solely those of the author and do not represent the stance or position of this website.
Previous article：
香港《稳定币条例草案》正式生效Next article：
Gemini 联创对特朗普提名 CFTC 主席人选 Brian Quintenz 提出质疑
