HKMA Sets Stablecoin Rules, Launches Registry Starting August 1
Main Idea
The Hong Kong Monetary Authority (HKMA) has finalized new rules for stablecoin issuers, requiring licensing and compliance with anti-money laundering measures, with a public registry launching on August 1, 2025.
Key Points
1. The HKMA has established new regulations for stablecoin issuers, mandating licensing and adherence to anti-money laundering (AML) and counter-terrorist financing (CTF) standards.
2. A public registry of licensed stablecoin issuers will be launched on August 1, 2025, to provide transparency and verify official approval.
3. Unlicensed issuers will face regulatory action, and the HKMA plans to approve only a limited number of licenses.
4. Interested companies must submit preliminary inquiries by August 1 and full applications by September 30 to be considered for licensing.
5. The move aligns with global regulatory trends, as seen in South Korea's recent legislative efforts regarding stablecoins.
Description
The Hong Kong Monetary Authority (HKMA) has finalized new rules for companies that issue stablecoins , digital tokens tied to fiat currencies.
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