Deep Tide TechFlow News, on July 29, the Hong Kong Monetary Authority announced that the "Stablecoin Regulation" will take effect this Friday, with a 6-month transition period. The Monetary Authority stated that existing stablecoin issuers will be classified: those meeting regulatory requirements can obtain a temporary license; those failing to meet the standards within 3 months must cease operations within 4 months; those not meeting licensing standards must terminate operations within 1 month of receiving notification.

Regulatory requirements include full reserves, processing redemptions within one day, establishing a physical presence in Hong Kong, and maintaining adequate financial resources. The Monetary Authority emphasized that initially, only a small number of licenses will be issued, and issuers are required to implement compliance measures such as customer due diligence and transaction monitoring. Violators will face penalties such as fines, suspension, or revocation of licenses.