Hong Kong Finalizes Stablecoin Rules Effective Aug. 1, Warns Against Hype as Licensing Delayed to 2026

2025-07-29 05:08:17

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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 on potential issuers to submit their applications by the end of September.

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