Hong Kong will begin enforcing its new Stablecoin Ordinance on August 1, 2025, requiring licenses for all entities issuing stablecoins tied to the Hong Kong dollar or operating in the region. The regulation also restricts advertising to licensed issuers to combat scams and protect consumers.
Introduced in May 2025, the ordinance is part of Hong Kong’s push to lead in digital finance. The government aims to build a regulated and sustainable stablecoin ecosystem. Secretary for Financial Services Christopher Hui highlighted that the framework will offer clear guidelines for market participants.
The Legislative Council is set to receive official notices on June 11 to finalize the law. A provisional exemption allows certain qualified investors to issue stablecoins without a license, but only to professional investors, with retail involvement still uncertain.
By moving ahead of countries like South Korea, Hong Kong positions itself as a regulatory pioneer in Asia. The ordinance may serve as a model for other jurisdictions seeking to balance crypto innovation with investor protections.
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