Hong Kong Finalizes Stablecoin Rules Effective Aug. 1, Warns Against Hype as Licensing Delayed to 2026
Main Idea
The Hong Kong Monetary Authority (HKMA) has finalized its regulatory framework for stablecoin issuers, with guidelines effective from August 1, aiming to gradually drive digital transformation while warning against unlicensed claims and scams.
Key Points
1. The HKMA published two sets of guidelines for stablecoin issuers, effective August 1, with the first batch of applications expected by end of September.
2. The framework includes supervision of licensed issuers, AML/CTF requirements, and a public registry of licensed stablecoin issuers.
3. The HKMA emphasized a step-by-step approach to stablecoin adoption, not expecting large-scale adoption immediately.
4. No stablecoin licenses have been issued yet, and the HKMA warned against entities falsely claiming to be licensed or regulated.
5. The HKMA will enforce compliance and advised skepticism toward entities claiming to be in the licensing process, expressing concern over market hype.
Description
The post Hong Kong Finalizes Stablecoin Rules Effective Aug. 1, Warns Against Hype as Licensing Delayed to 2026 appeared first on Coinpedia Fintech News The Hong Kong Monetary Authority (HKMA), the city’s de facto central bank, has finalized its regulatory framework for stablecoin issuers, publishing two sets of guidelines that will come into effect on August 1. While the framework is now in place, the HKMA is expected to issue the first batch of stablecoin licences in early 2026, and has called...
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