CoinVoice has recently learned that sources reveal the Hong Kong 'Stablecoin Regulations' will come into effect on August 1, 2025, while launching the stablecoin license application. The licensing process for stablecoin issuers will not involve applicants downloading forms themselves and submitting written applications; instead, it will be arranged in a manner similar to an invitation application system.

'In practical terms, the Hong Kong Monetary Authority, responsible for overseeing licensing, will communicate in advance with potential stablecoin license applicants to understand whether they meet the basic application qualifications. Only after obtaining basic recognition in these preliminary communications will the Monetary Authority issue application forms.' [Original link]