August 2, 2025

stablecoins ordinance

Crypto

HKMA’s strict stablecoin regime to shape Hong Kong’s crypto future

Hong Kong’s stablecoins ordinance, which took effect on Friday, puts cryptocurrency’s most-traded cash substitute under the same regulatory framework as banks, triggering a rush for a limited number of licences from the Hong Kong Monetary Authority (HKMA). Some market observers were caught by surprise after learning that the first batch of stablecoin licences was only

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