#CFTCCryptoSprint Hong Kong Stablecoin New Regulations Officially Take Effect! The World's First Comprehensive Regulatory Framework Launched

Hong Kong's "Stablecoin Ordinance" officially implemented on August 1, becoming the world's first comprehensive regulatory framework for fiat-backed stablecoins! 🔥 New regulations require:

✅ Mandatory Licensing: All stablecoin issuers must apply for a license from the Monetary Authority, and non-bank institutions need a paid-in capital of HKD 25 million.

✅ 100% Reserve + Independent Custody: Reserve assets must be highly liquid assets to ensure 1:1 redemption, and redemptions must be completed within one business day.

✅ Strict Compliance: Interest payments are prohibited, advertising is tightly controlled, and KYC real-name system requirements have sparked controversy in Web3.

The first batch of licenses is expected to be issued in early 2026, with giants like Ant Group and JD.com already positioning themselves, potentially reducing cross-border payment costs by 50%! 🚀 However, the high threshold may squeeze small and medium players. Can Hong Kong balance innovation and regulation?