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

The Hong Kong "Stablecoin Ordinance" officially came into effect 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, non-bank institutions require HKD 25 million in paid-up capital.

✅ 100% Reserves + Independent Custody: Reserve assets must be high liquidity assets, ensuring 1:1 redemption, with redemptions to be completed within 1 working day.

✅ Strict Compliance: Prohibition of interest payments, stringent control over advertising, 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 moves, potentially reducing cross-border payment costs by 50%! 🚀 But the high barriers may squeeze out small and medium players. Can Hong Kong balance innovation and regulation?