Secretary for Justice of Hong Kong: To issue fiat currency stablecoins in Hong Kong, you must apply for a license from the Monetary Authority
2025-10-29 04:40:35
Lam Ting-kwok, Secretary for Justice of the Hong Kong Special Administrative Region Government, said that in recent years, digital asset "stablecoins" pegged to fiat currencies have risen rapidly. Anyone who issues a fiat currency stablecoin in Hong Kong or a fiat currency stablecoin in Hong Kong or outside Hong Kong that claims to anchor the value of the Hong Kong dollar must apply for a license from the Monetary Authority. Relevant persons must meet the requirements for the management and redemption of reserve assets, including proper segregation of client assets, maintenance of sound stability mechanism, etc.
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