HKMA: If stablecoin issuers are not satisfied, they will receive a "denial notice"
2025-08-01 06:16:02
According to the 21st Century Business Herald, Hong Kong's Stablecoin Ordinance came into effect today. The Monetary Authority of the HKMA will grant a "temporary license" to stablecoin issuers who can prove their ability for the first six months (before February 1, 2026). If the stablecoin issuer is not satisfied that it will receive a "refusal notice" from the Monetary Authority, the entity will enter the closing period on the date of issuance of the notice, and will end its Hong Kong business in an orderly manner within one month.
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