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Hong Kong's "Stablecoin Ordinance" to Take Effect This Friday, HKMA Establishes Temporary License and 6-Month Transition Period

吴说Jul 29, 2025
#Macro
According to the Hong Kong Radio and Television website, the "Stablecoin Ordinance" will take effect this Friday. The Hong Kong Monetary Authority (HKMA) stated that it will set up a 6-month transitional arrangement to handle institutions that already have stablecoin issuance businesses in Hong Kong, including issuing temporary licenses to issuers who are capable of complying with regulatory requirements. If an issuer fails to meet the relevant requirements within 3 months after the ordinance comes into effect, it must orderly terminate its business in Hong Kong within 4 months after the law comes into effect. If the Commissioner of the HKMA is unable to satisfy that the issuer is capable of complying with the licensing criteria and regulatory requirements, the issuer must orderly terminate its Hong Kong business within one month after receiving the rejection notice. [Wu Blockchain]
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Hong Kong's "Stablecoin Ordinance" to Take Effect This Friday, HKMA Establishes Temporary License and 6-Month Transition Period

吴说Jul 29, 2025
#Macro
According to the Hong Kong Radio and Television website, the "Stablecoin Ordinance" will take effect this Friday. The Hong Kong Monetary Authority (HKMA) stated that it will set up a 6-month transitional arrangement to handle institutions that already have stablecoin issuance businesses in Hong Kong, including issuing temporary licenses to issuers who are capable of complying with regulatory requirements. If an issuer fails to meet the relevant requirements within 3 months after the ordinance comes into effect, it must orderly terminate its business in Hong Kong within 4 months after the law comes into effect. If the Commissioner of the HKMA is unable to satisfy that the issuer is capable of complying with the licensing criteria and regulatory requirements, the issuer must orderly terminate its Hong Kong business within one month after receiving the rejection notice. [Wu Blockchain]
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