✅ Hong Kong has overtaken the USA - Law on stablecoin licensing adopted

🔨 The Legislative Council of Hong Kong has approved the final version of the law on digital assets tied to fiat. Now every stablecoin issuer is required to obtain a license from the HKMA - even if it concerns a non-Asian company operating with residents.

📋 The law includes:

— requirements for reserve management and token redemption mechanisms;

— full segregation of client assets;

— mandatory AML, KYC, and risk management.

The law will come into effect by the end of 2025. A transition period and consultations are provided.

💬 Finance Minister Christopher Hui:

"The same activity - the same regulation."

🔎 While the USA is stalled with the GENIUS Act, Hong Kong is launching a real legal framework for the mass rollout of stablecoins.

Asia is ahead again: stablecoins are moving from theory - to real use in payments, B2B, and trade.

The next step - tokens from banks and corporations.