Hong Kong Stablecoin New Regulations Officially Come Into Effect! The World's First Comprehensive Regulatory Framework Launched
The Hong Kong 'Stablecoin Ordinance' officially came into effect on August 1st, becoming the world's first comprehensive regulatory framework for fiat stablecoins! 🔥 New regulations require:
✅ Mandatory Licensing: All stablecoin issuers must apply for a license from the Monetary Authority, and non-bank institutions must have a paid-in capital of 25 million Hong Kong dollars.
✅ 100% Reserve + Independent Custody: Reserve assets must be high liquidity assets to ensure 1:1 redemption, and redemptions must be completed within one working day.
✅ Strict Compliance: Prohibition of interest payments, strict control of advertisements, 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 making arrangements, potentially reducing cross-border payment costs by 50%! 🚀 But the high threshold may squeeze out small and medium players. Can Hong Kong balance innovation and regulation?
